The 2024 General elections are almost here, and new information is emerging daily. One of the latest developments that caused a ruckus in Indian politics is the release of Electoral bond data by the Election Commission of India(ECI) after orders from the Supreme Court of India. The data was collected by the State Bank of India and published by the ECI. It contains the names of the firms and individuals who purchased Electoral bonds to donate the money to India’s political parties.
Why Is Qwick Supply Pvt Ltd Making Headlines?
The reason why Qwik Supply Chain Private Limited is making headlines is that the company is relatively unknown. However, it still made a huge donation of Rs. 410 crore, which is a lot of money for such an establishment. Moreover, what makes it even more bizarre is that the company earned a total revenue of Rs.500 crores on paper and donated Rs.410 crore. This is why people are being sceptical. Many renowned personalities took it to X and shared their views on the data. On that note, let’s learn about Qwik Supply Chain Private Limited and discover how it made such a donation and how ECI let it slide.
What Is Qwik Supply Chain Private Limited?
Qwik Supply Chain Private Limited is a Mumbai-based firm classified as a non-government company registered in the registrar’s office in Mumbai, Maharashtra. It was founded on 9 November 2000 by Vipul Pranlal Mehta and Tapas Mitra. Although the company status is still active, the last balance sheet was filed on March 22. It deals in wholesale business and charges its fees or commissions based on the services it offers in a particular deal. It has an authorised capital of Rs.1,30,98,97,000 and a paid-up capital of Rs.1,29,98,97,000.
Role In Electoral Bond Purchase
As mentioned above, according to ECI data, Qwik Supply Chain Private Limited is the third-biggest donor, while Future Gaming and Hotel Services took the first spot and Megha Engineering and Infrastructure Ltd took the second spot. As per the data, the company has bought 400 electoral bonds worth Rs. 1 crore each. The firm made its first purchase on January 5, 2022. The second batch of electoral bond purchases was continued five days later, on 10 January 2022. After this, purchases were made on two different dates: 11 November 2022 and 17 November 2023.
One of the two directors of Qwik Supply Chain Private Limited, Tapas Mitra, is also the director of Reliance Eros, Reliance Oil and Petroleum, and Reliance Photo Films. For this reason, between 2021 and 2022, Tapas earned around Rs. 46.1 lakh as a full-time director’s salary and around Rs. 3.45 lakhs as additional perks.
According to the Qwik Supply Chain Private Limited’s website, the company provides logistics and other support services to its customers.
Qwik Supply Chain Private Limited And Reliance Connection
As mentioned above, one of Qwik Supply Chain Private Limited’s directors, Tapas Mitra, has good ties with India’s biggest company, Reliance. He has directorship in many companies, including Reliance First Pvt Ltd, Reliance Oil & Petroleum Pvt Ltd, Reliance Polyester Pvt Ltd, Jamnagar Kandla Pipeline Company and Reliance Photo Films. According to TOFLER, all of the companies mentioned previously are “Amalgamated”. This means that these companies act somewhat like a single entity, and the same people take care of their operations.
On LinkedIn, Tapas mentioned that he has more than two decades of experience and is dedicated to advancing Reliance’s financial operations. The profile says that since December 2010, Mitra has been the head of accounts, overseeing various facets of Reliance’s financial management.
According to details uploaded by the Zauba Corp, Mitra has an office in Dhobi Talao, South Mumbai. Mitra handles all the accounts and commercial business of the mentioned companies and their subsidiaries. According to various reports, Qwik Supply Chain Private Limited handles all of Reliance’s logistics, such as oil and gas transportation throughout India.
What Does It All Mean?
The development is still relatively new, and many things can still be done. Until then, nobody can say how a company that earns Rs. 500 crore can donate Rs. 410 crore. Moreover, Qwik Supply Chain Private Limited is not the only company being scrutinised. A few more companies have left people scratching their heads. However, more information will start coming out on Monday. Make sure you stay tuned with Trend To Review for any further details on the matter.
