Directors of owner firms of Donor No. 3 Qwik Supply are Reliance executives

Qwik Supply’s registered email address as per the RoC is also linked to Reliance Industries Limited’s domain (ril.com).

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In other words, Qwik Supply’s aggregate profit of Rs 79.98 crore over the previous years was much lower than Rs 410 crore it spent on purchase of electoral bonds. (Representational Image)

Qwik Supply Chain Private Ltd, a warehouse and storage company, that purchased electoral bonds worth Rs 410 crore, is associated with Reliance Industries Limited (RIL), given that directors in the shareholder companies of Qwik Supply are serving or retired top executives of RIL.

Further, one of the directors in Qwik Supply Chain is also a director in several companies such as Reliance Polyester Private Limited, Reliance Oil and Petroleum Private Limited, Reliance First Private Limited, and Reliance Fire Brigade Services Private Limited.

Qwik Supply’s registered email address as per the RoC is also linked to Reliance Industries Limited’s domain (ril.com).

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When contacted, an RIL spokesperson only said that Qwik Supply is “not a subsidiary of RIL”. He did not respond to questions on the ownership of Qwik Supply and the link of its shareholders with RIL promoter Mukesh Ambani.

Ownership details of Qwik Supply Chain, accessed by The Indian Express from the Registrar of Companies, shows it is owned in almost equal proportion by six companies — Gujarat Petcoke and Petroproducts Supply Pvt Ltd, Reliance Hospital Management Services Pvt Ltd, Reliance Fire Brigade Service Pvt Ltd, Reliance Group Support Service Private Limited, Vibrant Advertising Pvt Limited, and Imaginationworks Production Company Pvt Ltd.

At least one director in five of these six companies is a top RIL executive; in the sixth company, one of the directors is a former top executive from RIL.

Qwik Supply’s financial statements accessed from RoC shows its net turnover was Rs 9,813 crore in FY21, Rs 11,165 crore in FY22 and Rs 15,734 crore in FY23. In these three years, its net profit was Rs 24.24 crore, Rs 22.09 crore and Rs 33.65 crore, respectively.

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In other words, Qwik Supply’s aggregate profit of Rs 79.98 crore over the previous years was much lower than Rs 410 crore it spent on purchase of electoral bonds.

In the list of donors put in the public domain by the Election Commission on Thursday, Qwik Supply is the third highest buyer of bonds after Santiago Martin-owned Future Gaming and Hotel Services Private Ltd and PP Reddy-promoted company from Telangana Megha Engineering and Infrastructure Ltd. It bought electoral bonds worth Rs 225 crore on January 5, 2022, Rs 10 crore on January 10, 2022, a month before the elections in Uttar Pradesh; Rs 125 crore on November 11, 2022, before elections in Gujarat; its latest purchase of Rs 50 crore was on November 17, 2023, before elections in Madhya Pradesh, Rajasthan, and Chattisgarh.

Aggam Walia

Aggam Walia is a Correspondent at The Indian Express, reporting on power, renewables, and mining. His work unpacks intricate ties between corporations, government, and policy, often relying on documents sourced via the RTI Act. Off the beat, he enjoys running through Delhi's parks and forests, walking to places, and cooking pasta. ... Read More

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