As the year 2016 is coming to an end, it seems that Ringing Bells, the company which promised smartphone for Rs 251 is also reaching its nadir. The Co-Founder and MD of the company Mohit Goel has quit the company along with his wife Dharna Goel who was the CEO of the company. It is not clear who is running the company, but the Noida-based smartphone company is still in operation.

According to the statement released by the company’s spokesman, Mr. Anmol Goel, who currently holds the post of Consulting President will look after the affairs of the company. The statement added that Mr. Goel who is also one of the founders of the company would take the company forward to achieve its goals which it has set for itself.

Ringing Bells rose to prominence when it announced that it would be producing Smartphone for a price of Rs. 251. The proposal was met with a lot of skepticism, and the worst fears were confirmed. The saga of Freedom 251 is replete with failed delivery schedules and is continuously embroiled in one controversy after another. A case has been slapped on the company for cheque dishonoring, and it is presently being heard in the Delhi High Court.

The company is claiming that it has sold over 70,000 units of smartphone imported from Taiwan. However, it gave no timeline as to when the remaining orders will be fulfilled. The dealers who have sunk money into the project have been promised the return of funds, but no timeline has been forthcoming from the company.

Even though the company continues to stick to its statement that it is not shutting down, the Freedom 251 website continues to remain down for the past few weeks.