New Delhi, Jan 14 (Agencies): Police busted a counterfeit currency racket currency racket on Friday that extends to Punjab, with the arrest of a man.

Jagmohan, 42, was caught by police on Thursday night with fake currency from Uttam Nagar. He was allegedly manufacturing and circulating fake currency.

"Currency worth Rs.1,03,000 was recovered from the accused. A scanner, ink dye, paper, printer and note cutter have also been recovered," said a police official.

"The currency distribution happened in Punjab and we are in touch with Punjab Police for investigations," added the official.

“Attempts are on to gather information on Jagmohan's associates.” official said.