Noida, Jan. 13 -- Under Ringing Bells Company, Noida-based entrepreneur Mohit Goel made headlines around the world for offering the world's cheapest smartphone in November 2015. He called them Freedom 251 smartphones and offered them at an astonishingly low price of Rs.251.

On the day of its launch, Ringing Bells received six lakh hits in a minute on their website and has received nearly 7.5-crore orders for the smartphones, which obviously were not delivered.

Even as that memory remains fresh in our minds, Goel was arrested by Noida police on Monday for allegedly cheating scores of dry-fruit traders in what police say is an Rs. 200-crore fraud.

He was running a dry-fruit shop named Dubai dry fruits and spices hub, along with five othe...