ED probing Ringing Bells for alleged FEMA violation

The Directorate of Enforcement is investigating Ringing Bells, the company which has launched smartphone for Rs. 251, for alleged contravention of Foreign Exchange Management Act (FEMA), Telecom Minister Ravi Shankar Prasad said in a written reply to the Lok Sabha.

Responding to queries related to the smartphone, he said: “The government through various departments is taking steps to protect the interest of consumers.”

Besides, the Corporate Affairs Ministry has ordered scrutiny of the company’s books, while the Department of Electronics and IT (Deity) is reviewing issues related to ’Freedom 251’ smartphone, touted as world’s cheapest.

-More at The Hindu


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