Quess Corp Secures NCLT Nod for Major Corporate Restructuring

5 Mar 2025 , 05:32 PM

Quess Corp Ltd, a leading business services provider, said on Wednesday the Corporate Restructuring Plan of the company has been approved by the National Company Law Tribunal (NCLT), Bengaluru Bench.

The restructuring would be through Composite Scheme of Arrangement between Quess Corp Ltd, Digitide Solutions Ltd and Bluspring Enterprises Ltd and their respective shareholders and creditors. The scheme shall be effective upon filing of the certified copy of the NCLT order with the Registrar of Companies (RoC), Bengaluru, Karnataka.

Quess Corp had previously informed about the NCLT proceedings on Dec. 23, 2024 and Jan. 7, 2025. Last year, the company announced a demerger plan to create three independent publicly traded companies. Under our existing listed entity Quess Corp Ltd, we will continue to focus on workforce managing.

The first is a company and is an online insurtech and human resources outsourcing (HRO) services provider under a company ‘Digitide Solutions Ltd’ The second entity Bob (demerged) will be in facility management and industrial services – Bluspring Enterprises Ltd.

Under the demerger, one share each of Digitide Solutions Ltd and Bluspring Enterprises Ltd will be issued to the shareholders of the Quess Corp for every share held in the Quess Corp.

This demerger will enable a sharper focus of business and growth for each entity, as they will each be a pure-play vertical going forward.” The reorganization will be centered around developing standalone, scaled platforms to streamline the corporate structure. Its also a step to centralize our capital allocation, which increases the overall efficiency of our business.