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Foxconn will set up a manufacturing plant with an investment of 8800 crores, Byju failed to give financial details

New Delhi / Foxconn proposes to set up a complementary plant to the existing facility in Karnataka's Devanahalli IT Investment Region with an investment of ₹8,800 crore. This is expected to generate 14,000 jobs. State Large and Medium Enterprises Minister MB Patil said on Monday that Chief Minister Siddaramaiah chaired a high-level meeting with company representatives led by Foxconn Industrial Internet (FII) CEO Brad Cheng in this regard.
Patil said, FIIs have planned to invest Rs 8,800 crore under the proposal. About 100 acres of land will be required for the project. Apart from making the necessary components for the phone, the FII will also manufacture the screen and outer cover, the minister said in the statement. It will serve as a complementary plant to the assembly unit.

Center orders probe into Byju's books of accounts Ministry of Corporate Affairs has ordered probe into Byju's accounts. A senior official said on Monday that the edtech major is facing several problems, including delay in submission of financial statements and concerns over corporate governance issues. The ministry noted that the company has been unable to finalize its financial statements and that its auditor has resigned, the official said. Thereafter, it has been decided to examine the books of accounts. Earlier this month, the ministry had directed the regional director's office in Hyderabad to conduct an inspection of the company. Further course of action will be decided after receiving the inspection report, the official said. There was no comment from Byju's on this matter. Think and Learn Pvt Ltd, which owns BYJU'S, was incorporated on 30 November 2011.

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