I want to detect a circle, rectangle shaped object in an image and read the information from that object. Is there any api in java which will be helpful to me?
Ex: D
Circles are perfect targets for the Hough transform. Check this out Detect circles with HT and OpenCV
Rectangles are a bit harder since the Hough Transform is not rotation invariant. You can go into edge detection and fast fitting (Fast line and rectangle detection by clustering and grouping)
Here's an answer to a similar question for C++.
For Java, you can use the OpenCV wrappers. However, once you understand the essence of the approach you should be able to solve your problem using whichever framework is available.