KOCHI: Lyte Master Lighting India Pvt Ltd, a company that obtained a sub-contract for the implementation of an AI camera project in the state, but later disassociated from the project, on Tuesday informed the Kerala High Court that it suffered a loss of Rs 75 lakh.
The company does not have any other information about the implementation of the project after it withdrew from the same, said James Palamuttem, chairman of the company, which is in the business of LED lights and equipment manufacturing and installations, with factories in Germany and Chennai.
The affidavit was filed in response to a petition filed by Leader of Opposition V D Satheesan and senior Congress leader Ramesh Chennithala seeking an inquiry into the allegation of corruption in the AI camera project. The court adjourned the hearing of the case to August 10.
The affidavit stated that, after SRIT India Pvt Ltd was given the contract for the installation of the AI camera, representatives of Presadio Technologies Pvt Ltd contacted the company and put forward the proposal to form a consortium to carry out the work.
After primary analysis, the project was found viable with an assured profit of around Rs 30 crore in five years for an investment of Rs 75 crore. As per the terms of the agreement, the company procured samples of good-quality AI cameras. But the product was not accepted.