India, March 27 -- The Uttar Pradesh government has cancelled a Rs.25,000 crore memorandum of understanding (MoU) with artificial intelligence (AI) startup Puch AI amid criticism over the company's credentials.

The chief minister Yogi Adityanath-led UP government said the decision to cancel the MoU - signed on March 23 - was reached after a review of the agreement as per the standard protocols. Necessary details as per SOP were sought from the investor, but they failed to provide them timely, the state government said.

Due diligence showed lack of net worth and credible financial linkages for the project's scale, the state government said.

"Necessary details as per SOP were sought from the investor, but they failed to provide them time...