Ahmedabad, Apr 10 (IANS): The Anti-Terrorism Squad (ATS) of Gujarat on Monday busted a fake currency printing unit in the Juhapura area of Ahmedabad, an official said, adding four persons have been held in this connection.

During the raid, the ATS seized 48,000 fake currency notes of Rs 500 denomination along with printing presses, ink, paper, and other materials used for producing counterfeit currencies.

The ATS stated that the operation was "sophisticated", saying the individuals involved had in-depth knowledge of the printing process and used high-quality materials to produce counterfeit notes.

During questioning, it was revealed that the accused had received 60 per cent of the payment for printing fake notes from a third party.

The ATS suspects that this operation is part of a larger network involved in the production and distribution of counterfeit currency notes.

As such, ATS officials have called on the public to report any suspicious activity related to fake currency.