Thanks for the reply, the “crazier” way that you said seems to be a really good one, I got an idea
1)I can use “ffmpeg” its a library/software using which I can extract all the frames from the video and store as images . I can even do that using VLC player
2)Now once I have the images going OCR would be easy on each image and extract the data
thanks 
But it would be difficult for the real-time streaming/projecting situation, yes I can do screenrecording or screenshots at particular interval of time and then do the ocr
But I wish to know if there is any way to apply OCR engine on video files not on images
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