With full fan fare, Founder Mohit Goel, the boy from Shamli, who made headlines by promising a smartphone at an unbelievable price of Rs 251 has quit the company leaving company's fate in limbo.

Working as Managing Director, Mohit, has launched another venture MDM Electronics. His wife Dhaarna, who was the director has also quit the company. In a press statement, Mohit's brother Amol will be in charge of and would take care of all the liabilities of Ringing Bells.

It did not, however, give a clear indication of the way forward, leaving dealers who have taken advances to distribute the phone, named Freedom 251, anxious. Mohit and Dhaarna have given no explanation for leaving. 

The company office, which is located in the Noida sector 62 was found locked and people around the office have reportedly told that the premises is locked for last two weeks.