Hyderabad: Two students were on Monday arrested for allegedly preparing and circulating fake currency notes, police said today.
Fake notes with a face value of Rs 1 lakh were seized from the duo, Syed Adil Shah and K Tarun Goud, who were rounded up from Chandrayangutta area here, they said.
They had prepared fake currency notes (in Rs 500 denomination) by using laptop, printer and scanner. The duo was nabbed while they were trying to put them into circulation, police said.
The accused are childhood friends and are doing their graduation.
They hatched a plan to prepare fake notes to meet expenses of their lavish lifestyle, police said, adding further investigations were on.