Overview
- Invest UP announced Thursday that the MoU is cancelled with immediate effect, leaving no rights or obligations between the parties.
- Officials said the review found inadequate net worth and no credible financial linkages for a project of this size, and that the firm missed the deadline to furnish required documents.
- The agreement, announced Monday, was a non-binding signal of intent to build AI parks, data centres, an AI commons for public access, and an AI university in the state.
- Puch AI co-founder Siddharth Bhatia said the proposal was a public‑private partnership with no cost to taxpayers and disputed revenue figures circulating online.
- Opposition leaders called for probes into similar deals, and sources said the chief minister directed stricter pre‑MoU verification and closer monitoring of social media to prevent repeat lapses.