JUDGMENT Hon'ble BHAGWATI, V.J.—This order governs the disposal of bail application filed under Section 439 of Cr.P.C. by Shri Manoj Avasthi, Advocate on behalf of the petitioner pertaining to F.I.R. No. 519/2008 of Police Station Bari in the offence under Sections 498-B and 489-C IPC. 2. Heard the learned counsel for the petitioners as also the learned Public Prosecutor appearing for the State and perused the material on record. 3. Learned counsel for the petitioners has submitted that there is not even a shred of evidence against the accused-petitioners. No counterfeit currency note is alleged to have been recovered from their possession. Both the petitioners have been falsely implicated, and hence, they may be granted the indulgence of bail. 4. Learned Public Prosecutor has opposed the bail petition on the ground that eight packets each of Rs 100/- counterfeit currency notes, were recovered from the possession of the petitioners and they were endeavouring to circulate them in the market. The offence committed by the petitioners is of grave nature and their bail petition should be dismissed. 5. Having reflected over the submissions made at the bar and carefully perused the material on record, it is noticed that the eight packets each of Rs. 100/- counterfeit currency notes were recovered from the petitioners. They were found circulating these counterfeit currency notes in the market. It is pertinent to note that a country's currency is one of its cornerstones. Its value against other currencies reflects the strength of its economy and is also a matter of national pride. What it buys is of great importance to its citizens. Consequently, its effective management is a great concern for any government. Today this pillar of our country is under attack from an insidious and invisible enemy. A proliferation of fake currency over the last three years has grown to dangerous proportions. According to the National Crimes Records Bureau, 2,204 cases of counterfeiting were reported in 2007. Small states like Sikkim, Uttarakhand and Himachal Pradesh witnessed an average increase of 185 per cent in counterfeiting cases between 2006 and 2007. As India grapples with a financial downturn, the spread of counterfeit notes leads to greater uncertainty, undermining a country's confidence in its financial system and the strength of its currency. Counterfeit currency has always been used to fund criminal activity, be it drugs or arms smuggling. As India grapples with a financial downturn, the spread of counterfeit notes leads to greater uncertainty, undermining a country's confidence in its financial system and the strength of its currency. Counterfeit currency has always been used to fund criminal activity, be it drugs or arms smuggling. Today it is estimated that eight or nine notes of every thousand in circulation in India are counterfeit. 6. The nefarious activity of the petitioners is posing a serious threat to the Nation, breaking and paralyzing its economy. Hence, without expressing any opinion on the merits of the case, but keeping in view the severity of offence, I do not feel it proper to grant any indulgence of bail to the petitioners and their bail petition out rightly deserves to be dismissed. 7. In the result, the bail petition filed on behalf of the accused petitioners Prem Singh and Megh Singh under Section 439 of Cr.P.C. stands dismissed.