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Freedom 251: Income Tax dept raids Noida-located office of Mohit Goel’s Ringing Bells

Noida: The Police and Income Tax department have raided the Noida-located office of Ringing Bells. The company recently launched the world’s cheapest smartphone Freedom 251 worth Rs 251.
The IT department raided the office in order to investigate if a huge scam was underway in name of the Ringing Bells company. The probe comes at a time when the Cellular Association has claimed the manufacturing cost of phone to be Rs 4,100 approximately.

In the meanwhile, Telecom Ministry has said the cost of Freedom 251 to be around Rs 2,300. The company has so far booked 25 lakh handsets. The Freedom 251 was launched on Wednesday in the presence of company’s President Ashok Chaddha and Managing Director Mohit Goel.
The phone flaunts the 4 inch HD display, 1.3 Ghz processor with 1 GB of RAM. The official website of the phone attracted so much traffic that it crashed. On day one, at least, 6 lakh people clicked the website in one second which was again resumed on Friday.
According to reports, as the information of launch of a smartphone at just Rs 251 surfaced in media, the police and Income Tax department was constantly keeping an eye on the issue. The sources said that IT department has taken some crucial documents along with them for investigation.
If the incident of fraud or scam comes to light in the probe, there are chances that passports of company’s officers and promoters will be seized so that they are not able to flee the country.

According to Corporate Affairs Ministry, the Ringing Bells Private Limited was formed in September 2015 and has been registered in Delhi’s Registrar of Companies Office. The paid-up capital of the company is said to be Rs 60 lakh while authorised capital is Rs 1 crore.

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