Mohit Goel of Ringing Bells came into news last year after he announced to deliver the smartphone at the promised cost of $3.70 to consumers who had pre-booked the phone online, despite the company having to incur a loss of $2.65 per smartphone. Ghaziabad Police has detained Goel after complaint filed by Ayam Enterprises alleging that Ringing Bells "defrauded" it of $0.024 million.
"We paid $0.045 million (Indian Rupees 30 Lakh) to Ringing Bells through RTGS on different occasions. But it delivered us product worth $0.02 million (Indian Rupees 13 lakh) only. Upon follow-up, we could get products plus money totaling $0.021 (Indian Rupees 14 lakh)," it claimed in the FIR.
Earlier, Goyal in conversation with Sputnik told that his motive behind this scheme was to show to the world that India can deliver smartphone at the cheapest rate.
"Even if government wants to procure 700 million smartphone at a cost of Indian Rupees 251 ($3.70), the company can deliver the amount within a year, provided that the loss incurred per unit is subsidized by the government. If the government can't trust this company, they can acquire Ringing Bells or send government officials to oversee the manufacturing process. However, we will not bribe leaders or officials to bag the project."
Government has launched serious investigation to the company suspected money laundering activities.
