India, Oct. 27 -- The Vishrambaug police have busted an inter-district counterfeit currency racket, arresting four men and seizing 1,128 fake Rs.500 notes with a face value of Rs.5.64 lakh, officials said on Monday.

The police initially detained Salman Jainuddin Raje, 30, of Ambegaon in Kedgaon, Daund taluka, near Mahatma Phule Mandai on October 14. A search allegedly led to the recovery of 805 counterfeit Rs.500 notes worth Rs.4,02,500. Following a complaint by police constable Sachin Ahivale, a case was registered at Vishrambaug police station.

During Raje's interrogation, the police allegedly obtained information about three other members of the racket. A team led by senior inspector Navnath Jagtap conducted raids in Satara and Kolha...