However, Ashok Chadha, the president of the company has denied the reports of shutting down of the office. According to him, the owner of the plot has some issues with the Noida Authority for renting out a property meant for industrial use as a commercial use. He confirmed that they are very much in the business.
Earlier, the company has faced queries from Income Tax department, the Enforcement Directorate and Department of Electronics and IT and it has also been quizzed for their business model.
When the company faced the questions regarding the acceptance of advance payment, it revealed that it is planning to return nearly Rs 75 lakh from their 30,000 prospective customers and plans to opt for cash-on-delivery model.
Noida-based BPO, Cyfuture which provided call center services for booking and enquiries about the phone has filed a police complaint alleging non-payment of dues. However, Ringing Bells claims that they have terminated the contract of the BPO as it failed to provide the services.
Meanwhile, it reaffirms that as per the commitment they will start delivering the phones from April 15 at the committed price of Rs 251 churning out profit of Rs 31.