NEW DELHI: Following the Election Commission of India's publication of electoral bond data on its website, it has come to light that Qwik Supply Chain Private Limited, a company with ties to Reliance Industries, ranks as the third-largest donor to political parties through electoral bonds.
Despite being relatively obscure, Qwik Supply, registered at Navi Mumbai's Dhirubhai Ambani Knowledge City (DAKC), purchased Rs 410 crore worth of electoral bonds between the financial years 2021-22 and 2023-24.
However, Reliance clarified that Qwik Supply is not a subsidiary of any Reliance entity.
The significant electoral bond purchases by Qwik Supply were surpassed only by Future Gaming and Hotel Services, a lesser-known lottery company with Rs 1368 crore, and Hyderabad-based Megha Engineering & Infra with Rs 966 crore in donations to political parties, according to information disclosed by the Election Commission.
Qwik Supply, publicly described as a manufacturer of warehouses and storage units, was incorporated on November 9, 2000 with an authorized share capital of Rs 130.99 crore and a paid-up capital of Rs 129.99 crore.
While its revenue for the fiscal year 2022-23 exceeded Rs 500 crore, specific profit figures are not available.
In the financial year 2021-22, Qwik Supply purchased electoral bonds worth Rs 360 crore, despite reporting a net profit of only Rs 21.72 crores for the same period.
It further acquired Rs 50 crore worth of bonds in the financial year 2023-24.
The company boasts three directors and one key management personnel. Tapas Mitra, the longest-serving director, appointed on November 17, 2014, also holds positions in 25 other companies, including those associated with Reliance Industries.
Vipul Pranlal Mehta, a director since December 10, 2019 is associated with eight other companies, including one named Rel Icons and Traders Private Limited.
The most recent addition to the board, Sridhar Titti, joined on November 27, 2023.
In response to inquiries, a spokesperson for Reliance Industries clarified that Qwik Supply Chain Pvt Ltd is not a subsidiary of any Reliance entity.
Additionally, Nexg Devices Pvt Ltd, linked to Surender Lunia, purchased electoral bonds worth Rs 35 crore in May 2019 and November 2022.
Another firm associated with Lunia, Infotel Business Solutions, acquired electoral bonds worth Rs 15 crore in May 2019.
Lunia was involved in the sale of a 29.18 per cent stake in NDTV, previously held by Reliance-linked firms, to the Adani Group.
