Diensten Tech Limited Transfers Customer Contracts from Subsidiary
Diensten Tech Limited announced on March 24, 2026, that its Board of Directors approved the transfer of certain customer contracts from its wholly-owned subsidiary, Ushta Te Consultancy Services LLP, to the company.The transaction, which is considered a related-party transaction at arm’s length, aims to consolidate business operations and enhance operational efficiency. According to company disclosures, the transaction covers substantially all customer contracts of Ushta Te Consultancy Services LLP. This transfer results in a significantly reduced operational footprint for the subsidiary.
The transfer is being undertaken without consideration, and the size of the transaction cannot be quantified in monetary terms. Diensten Tech Limited anticipates that the transaction will not have any adverse impact on the company's consolidated financial performance. The transfer does not constitute a slump sale or disposal of an undertaking as per applicable laws.
| Particulars | Details |
|---|---|
| Nameofthe parties involved | Diensten Tech limited and Ushta Te Consultancy Services LLP |
| Relationship with the Company | Diensten Tech limited (Holding Company) and Ushta Te Consultancy Services LLP (Wholly owned Subsidiary) |
| Nature of Transaction | Transfer/assignment of customer contracts from the Wholly owned subsidiary to the holding company |
| Whether related party transaction | Yes |
| Whether at arm's length | Yes |
| Industry to which the entity belongs | Tech Manpower Staffing |
| Objects and impact of the transaction | Business consolidation and operational efficiency |
| Details of consideration | Nil |
| Size of the transaction | Not quantifiable in monetary terms as the transfer / assignment of customer contracts from the Wholly owned Subsidiary to the Company is being undertaken without consideration; however, operationally, the transaction covers substantially all customer contracts of Wholly owned Subsidiary. |
| Details of business transferred: | Substantially all customer contracts of the Wholly owned subsidiary will be transfer to the Company. |
| Impact of the transaction | The Wholly owned subsidiary will have significantly reduced operations. The transaction is not expected to have any adverse impact on the consolidated financials of the Company. |
| Any other relevant information | The transaction does not fall under the definition of slump sale or disposal of undertaking as per applicable laws |
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