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

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s