A day after the Election Commission of India (ECI) published the details of electoral bonds data on its website, the details revealed that the list of entities that donated funds to political parties between April 2019 and January 2024 includes a company linked to Reliance.
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Reporters’ Collective revealed in a report that Qwik Supply Chain Private Limited, a company linked to Reliance, contributed ₹410 crore to political parties via electoral bonds, which has now been declared unconstitutional by the Supreme Court.
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Qwik Supply Chain Pvt Ltd’s connection with Reliance
Qwik Supply Chain has three directors – Tapas Mitra, Vipun Pranlal Mehta, and Sridhar Titti – and one reported key management personnel, Anushree Bhargava, according to TOFLER, a business intelligence platform for private companies in India.
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The longest-serving director is Tapas Mitra who was appointed on November 17, 2014. Mitra has been on the company board for more than nine years. Meanwhile, he has directorships in 25 other companies, including Reliance Eros Productions LLP, Reliance Tankages Private Limited, Reliance Group Support Service Private Limited, Reliance Fire Brigade Service Private Limited, Jamnagar Kandla Pipeline Company and several others.
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TOFLER further states on its website that the current statuses of Reliance First Pvt Ltd, Reliance Oil & Petroleum Pvt Ltd, Reliance Polyester Pvt Ltd, Jamnagar Kandla Pipeline Company and Reliance Photo Films are ‘amalgamated’.
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Further, Reliance Group Support Services, incorporated on April 26, 1995, has an authorised share capital of ₹9.75 crore only. It offers portfolio management, mutual fund advisory, and other related services.
On Linkedin, Mitra has listed himself with nearly two decades of experience, dedicated to advancing the financial operations of Reliance. Since December 2010, the profile says, Mitra has served as the Head of Accounts, overseeing various facets of financial management for the company.
Based in Navi Mumbai, Mitra’s responsibilities extend to leading the Accounts and Commercial functions across multiple Group companies, including subsidiaries, associates, and joint ventures.
Prior to this role, Mitra has held the position of Senior Manager/General Manager in the Accounts department from July 2004 to December 2010.
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About Qwik Supply Chain donation through electoral bonds
Qwik Supply Chain has contributed a sum of ₹410 crore to political funding according to the details published by the Election Commission. In the financial year 2021-22 alone, the company donated ₹360 crore to political parties. Reporters’ Collective disclosed that in FY2022, Qwik Supply Chain garnered a net profit of ₹21.72 crore.
Moving to FY2024, the company made a political donation of ₹50 crore, according to the EC data. As of March 31, 2023, Qwik Supply Chain’s revenue exceeded ₹500 crore.
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Published: 15 Mar 2024, 01:19 PM IST