In a conventional Mott insulator, magnitude of local spin moments remain fixed. They are `fixed spin Mott insulators'. We suggest that, in a multi orbital Hubbard model, when local Hund coupling is won over by inter-orbital superexchange couplings between neighboring sites, local spin moment can decrease its value in a cooperative fashion, through a first order phase transition, These are `Low spin state Mott insulators' (LSSMI). The minimal value of spins that can be reached are zero (half), for even (odd) number of electrons per site, We show that in LSSMI, depending on orbital degeneracy and electron number per site, novel quantum spin liquids can emerge, We discuss systems such as Fe arsenide, Fe selenide family and La2CoO3 in the light of our proposal. Certain long standing puzzles, including absence of any magnetic phase transition in La2CoO3 is explained in terms of a novel quantum spin liquid. Some properties of this spin liquid, a liquid of `quantum strings' will be discussed and some predictions made.