AI Camera deal: Controversial Presadio donated Rs 20 lakh to CPI-M, benefitted from Kerala govt schemes

Thiruvananthapuram: More information has emerged on the controversial firm in connection with the AI camera irregularities, Presadio Technologies Private Limited. The other day it was reported that the company's revenue surged by 500 times within a year. 

Also read: AI camera deal: Controversial firm Presadio's revenue went up 500 times within a year

The Managing Director of the company, Surendra Kumar, owns 99.5% shares of the company. Ramjith, who led the negotiations holds 0.5% shares of the company. The documents also revealed that the company has done more than one transaction with Chief Minister's son's father-in-law.

The concerns that now arise are: Why did Pathanamthitta native and Oman-based businessman Surendra Kumar start the Presadio company in Kozhikode in 2018? How did Ramjith, a Kozhikode native who later rose to the position of business director, establish a close relationship with the highest officials of the government? How, after connecting to the Motor Vehicles Department within its first year of operation, did the company manage to conduct transactions totaling billions of rupees? The documents include important details that clarify the answers to these queries. Surendra Kumar, the company's MD, has strong ties to the CPM leadership and to the government in general.

In addition, Surendra Kumar gave the Communist Party of India (Marxist) (CPIM) Rs 20 lakh as party funding during the assembly elections. Mathai Surendra Kumar's name appears on the list of 149 donors from Kerala in the records provided to the Election Commission. It is also noteworthy that this donation was made in the same year when the company earned a profit of about nine crore rupees through the implementation of government projects after grabbing the contract. 

The two transactions that the wife of the Chief Minister's son made with her father Prakash Babu within three years of the company's start-up serve as additional proof. The company paid Prakash Babu Rs 50,000 as rent for the guest house in Ernakulam in 2019–20 and also paid Rs 1,75,000 under the heading "Trade Payable" in 2020–21. These details have been furnished before the Ministry of Corporate Affairs. This indicates that Presadio and Prakash Babu have been engaged in business for two years consecutively. However, neither company nor Prakash Babu has made it clear what the deal entails. 

According to the documents, Presadio has been a partner of the Safe Kerala project since its inception, and government schemes have fueled the company's impressive growth. The records also show that Presadio bought most of the equipment from Primera, a company based in the Middle East. In short, it is clear that most of the transactions took place in companies that were formed just before the Safe Kerala project was launched.

Although SRIT has taken up the project of installing cameras to detect violations on the road, the main project management firm is Kozhikode-based Presadio. The contract details of other projects won by Presadio are also coming out after the controversy over the corruption and illegal intervention of crores of rupees.

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