Qwik Supply Chain Private Ltd, a warehouse and storage company, has come under scrutiny for its close association with Reliance Industries Limited (RIL) with people wanting to know about its owner
The directors of the shareholder companies of Qwik Supply are serving or retired top executives of Reliance. This indicates a strong connection between the two entities.
Who is the owner of Qwik Supply Chain Pvt Ltd company, turnover, profit and is it linked to Reliance as electoral bonds donation is revealed
Qwik Supply Chain Private Limited, a company linked to Reliance, contributed ₹410 crore to political parties via electoral bonds. Qwik Supply Chain has three directors, Tapas Mitra, Vipun Pranlal Mehta, and Sridhar Titti and one reported management personnel, Anushree Bhargava.
The longest-serving director is Tapas Mitra who was appointed on November 17, 2014 and 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.
One of the executives in Qwik Supply Chain also holds directorships in several other companies linked to Reliance Industries Limited. These include Reliance Polyester Private Limited, Reliance Oil and Petroleum Private Limited, Reliance First Private Limited, and Reliance Fire Brigade Services Private Limited, suggesting a network of interconnected businesses.
Qwik Supply’s registered email address, according to the Registrar of Companies (RoC), is linked to Reliance Industries Limited’s domain (ril.com), further indicating the close ties between the two entities. Additionally, ownership details reveal that Qwik Supply is owned in almost equal proportion by six companies including Gujarat Petcoke and Petroproducts Supply Pvt Ltd, Reliance Hospital Management Services Pvt Ltd, and others with top RIL executives serving as directors in most of these companies.
Qwik Supply Chain Private Limited
Owned by Tapas Mitra- head of accounts for Reliance.
The company made Rs 10 crore as profit but donated Rs 410 crores. pic.twitter.com/72WVtQbpug
— 𝗠𝗶𝘀𝘀.𝗛🕊️ (@politicalbarbi) March 16, 2024
Electoral Bond purchases
According to Qwik Supply’s financial records obtained from RoC, its net turnover for the fiscal years 2022, 2023, and 11165 was Rs 9,813 crore, Rs 11,165 crore, and Rs 15,734 crore. For these three years, its net profit was, in that order, Rs 24.24 crore, Rs 22.09 crore, and Rs 33.65 crore.
Despite its significant turnover and profit, Qwik Supply’s aggregate profit over the past years was much lower than the Rs 410 crore it spent on purchasing electoral bonds. This raises questions about the source of funds for these purchases and the transparency of the electoral bond system.
Qwik Supply is the third-highest bond buyer on the list of contributors made available to the public by the Election Commission on Thursday. The two companies that possess the most bonds are Future Gaming and Hotel Services Private Ltd, which is controlled by Santiago Martin, and Megha Engineering and Infrastructure Ltd, a Telangana firm that is promoted by PP Reddy.
A faulty product was delivered to a customer by Reliance Digital. The customer complained, He was asked to return it back to the address they mentioned. The customer returns the product to 'Qwik Supply Chain Pvt Ltd' and shares the acknowledgement.
Qwik Supply Chain Pvt Ltd… pic.twitter.com/XsSObPAwIK
— Mohammed Zubair (@zoo_bear) March 15, 2024
On January 5, 2022, it purchased electoral bonds worth Rs 225 crore. A month earlier, on January 10, 2022, it purchased Rs 10 crore. On November 11, 2022, it purchased Rs 125 crore before the elections in Gujarat. On November 17, 2023, just before the elections in Madhya Pradesh, Rajasthan, and Chattisgarh, it made its most recent purchase of Rs 50 crore.