Quess Corp Limited has announced the receipt of significant income tax refunds totaling ₹63.81 crore for two consecutive financial years. The company disclosed this development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, highlighting the favorable outcome of its tax proceedings.

Income Tax Refund Details

The company received two separate refund orders from the Joint Commissioner of Income Tax (OSD), Central Circle -2(1), Bengaluru, both issued under Section 154 of the Income Tax Act, 1961. The refunds were granted for Financial Years 2021-22 and 2022-23, representing substantial amounts that will benefit the company's cash position.

Regulatory Compliance and Disclosure

Quess Corp has fulfilled its regulatory obligations by providing comprehensive details as required under Regulation 30 of the SEBI Listing Regulations. The disclosure includes information about the issuing authority, nature of orders, receipt dates, and impact assessment on company operations.

Business Impact Assessment

The company has confirmed that these income tax refunds will not impact its financial, operational, or other business activities. The refunds represent favorable resolution of tax matters for the specified financial years, with both orders being processed simultaneously by the tax authorities.

The information has been made available on the company's official website at www.quesscorp.com , ensuring transparency and accessibility for all stakeholders. This development reflects the company's compliance with tax regulations and successful resolution of assessment proceedings for the respective financial years.

Quess Corp Limited has issued a comprehensive postal ballot notice dated March 16, 2026, seeking shareholder approval for significant corporate actions including amendments to existing stock ownership plans and key leadership appointments. The company has now published newspaper advertisements regarding the postal ballot notice under Regulation 30.

Regulatory Compliance and Publication

Following the postal ballot notice intimation dated April 07, 2026, Quess Corp has published newspaper advertisements in Financial Express (English) and Hosadiganta (Kannada) on April 08, 2026, pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Stock Ownership Plan Restructuring

The company proposes substantial changes to its employee stock ownership framework through multiple resolutions. Under the first resolution, Quess Corp seeks to amend the existing Quess Stock Ownership Plan 2020 (QSOP 2020) by redeploying 18,22,968 RSUs from the original allocation to the proposed new plan.

The restructuring aims to optimize the utilization of unallocated stock units while maintaining existing grants to employees under the original plan.

New QSOP 2026 Introduction

The second major resolution introduces the Quess Stock Ownership Plan 2026 (QSOP 2026), designed to drive performance toward achieving common goals measured through Revenue, Profits, Cashflow and Shareholder Value Creation. The new plan encompasses comprehensive coverage for eligible employees across the organization and its subsidiaries.

The plan incorporates performance-based vesting conditions with 50% weightage on individual performance and 50% on corporate performance parameters including EBITDA and Operating Cash Flow achievement against Annual Operating Plan.

Executive Leadership Appointment

The fifth resolution addresses the appointment of Lohit Bhatia as Whole-time Director designated as Executive Director and Group Chief Executive Officer. Bhatia, who currently serves as CEO since January 01, 2026, brings 28 years of multi-industry leadership experience.

Bhatia's leadership has been instrumental in scaling the company's staffing business from 13,000 to over 470,000 associates, establishing Quess as India's leading staffing enterprise. His appointment reflects the company's succession planning initiatives and focus on sustained growth.

Secondary Acquisition Authorization

The fourth resolution seeks approval for secondary acquisition of equity shares by the Quess Corp Limited Employees Welfare Trust. This mechanism will facilitate implementation of QSOP 2026 through market purchases, providing flexibility in plan execution.

The trust is authorized to acquire up to 52,50,000 equity shares representing 3.52% of paid-up capital, with the company empowered to provide loans not exceeding 5% of aggregate paid-up capital and free reserves for acquisition purposes.

Voting Process and Timeline

Shareholders can participate in the decision-making process through remote e-voting exclusively, with no physical voting arrangements. The comprehensive voting schedule ensures adequate time for shareholder participation and decision-making.

The postal ballot notice has been distributed electronically to shareholders whose email addresses are registered with the company or depositories. Central Depository Services (India) Limited (CDSL) will provide the remote e-voting platform, with V. Sreedharan & Associates appointed as scrutinizers to ensure fair and transparent voting process.

These resolutions represent significant strategic initiatives aimed at strengthening employee alignment with shareholder value creation while establishing robust leadership continuity for the company's future growth trajectory.