Srinagar/UNI: Police have arrested a local for possessing counterfeit currency in the Kulgam district of Jammu and Kashmir, officials said.

Police also seized 37 counterfeit currency notes in the denomination of Rs 500.

Officials said as Khurshid Ahmad Naik a resident of Waripora, Kund Kulgam was arrested at a checkpoint on Srinagar Jammu national highway.

"A police party from Police Post Mirbazar established a checkpoint on national highway- 44 near Manigam crossing and during checking one suspicious person was signalled to stop.

"However, he tried to escape from the spot but was tactfully chased and apprehended by the alert party," a police statement said.

During searches Police recovered 37 counterfeit currency notes of Rs 500 from his possession, it added.

Police said he has been arrested and a case under IPC sections 489B (using as genuine, forged or counterfeit currency notes or bank notes), 489C (possession of forged or counterfeit currency notes) has been registered at Police Station Qazigund and investigation into the matter has been initiated.