The Enforcement Directorate received complaints against Ringing Bells’ Freedom 251 mobile handset. The agency has begun an enquiry into the matter.
According to sources, the ED is likely to write to PayU (online payment gateway) seeking details of the company’s escrow bank account. Officials say that they suspect that the company may run away with the money paid by the customers if they fail to deliver the product in time.
Earlier too, income tax officials visited the Ringing Bells office, located in Noida Sector 63, to gather financial details of the company. Telecom Minister Ravi Shankar Prasad had also raised concerns about the company’s ability to produce the handsets by the stipulated deadline.
The Quint had earlier reported that the company had not come out with a clear statement on how they plan to produce the handsets. Previously, the company maintained that they are assembling the product in India, But now they have changed their stand by saying that they are importing the product.
Questions are also being raised about how the company will supply handsets at a cost of Rs 251 when the cost incurred would be much higher.
Also Read:
(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)