LUCKNOW: The Uttar Pradesh government has cancelled a proposed Rs 25,000 crore Memorandum of Understanding (MoU) signed with Bengaluru-based startup Puch AI for developing artificial intelligence infrastructure in the state, citing lack of financial credibility on the part of the firm.
In a statement on Thursday, it said “...the MoU signed with Puch AI on March 23, 2026, was reviewed.
Necessary details were sought from the investor, but they were not provided in a timely manner. Due-diligence showed lack of net worth and credible financial linkages for the project’s scale.”