The name ‘Ringing Bells’ is enough to a ring an alert bell every time one hears that, and this name will keep ringing bells among Indians in coming times too. This is the same company that once woke up India on a lazy morning with its announcement to sell smartphones – Freedom 251 – for a price of Rs 251.
The founder of that company Mohit Goel, after a short scandalous stint with technology, is going back to where he came from – grocery business. The then MD of of Ringing Bells has now founded another company that will be in the business of selling and distributing dry fruits – his family business of three generations.
It can be recalled that Ringing Bells has already been shut down.
The new company is named as ‘Family Of Dry Fruits India Private Limited’ and is incorporated with a share capital of Rs 25 lakh and a paid up capital of Rs 10 lakh. Mohit Kumar (Goel) and Disha Rana are the founders and directors of this company.
Disha Rana is still a director in Ringing Bells where as Mohit Goel had quit the dubious firm in December 2016. The new company – Family of Dry Fruits – was incorporated on 20 December 2016.
The Goel family, Mohit Goel and his father Rajesh Goel, was originally in to the business of aggricultual commodity selling groceries including dry fruits, pulses, spices, sugar and rice. They have been running this business for last three generations from a small village named Garhipukhta in Shamli ditrict of Western UP. The entire family was miles away from technology before Mohit ventured to the smartphone business.
The Scandalous Past
It can be recalled that TeleAnalysis broke the story on 15 December 2016 that Ringing Bells has shut down its smartphone business and its founders have formed another company -MDM Electronics Pvt Ltd – to run some other business.
MDM Electronics Private Limited was founded by Mohit Goel -who was the MD of Ringing Bells, Shashank Goel – also linked to the old company, and Ashok Chaddha – President of the company. In fact Chaddha was the face of Ringing Bells and was the official spokesperson of the company, though he was not a director of Ringing Bells.
In February 2017, we had reported that Ringing Bells founder Mohit Goel, was arrested by UP Police for alleged fraud.
A Ghaziabad based company, Ayam Enterprises, had filed a case against Ringing Bells alleging the later has defrauded it for Rs 16 lakh. Goel had been detained by the Ghaziabad police for interrogation.
According to reports Ayam Enterprise had paied Rs 30 lakh to Ringing Bells to take dealership of its Freedom 251 smartphone, which were priced at Rs 251 per piece. The smartphone company, however, had provided it goods worth Rs 14 lakh and the Rs 16 lakh are, neither returned nor any products supplied for that value.
In February 2016, Ringing Bells had announced to launch a smartphone – Freedom 251, which was then touted as the world’s cheapest smartphone. Though the company launched the phone at the same price, buyers who booked it online by paying the entire amount up front, never received the device. Later the company got embroiled in multiple controversies and was forced to return the money to the buyers.