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| Electoral bond politics |
In a startling revelation, The Reporters Collective has uncovered significant connections between Qwik Supply Chain Private Limited's political donations and the influential Reliance Group. Despite its relatively low profile, Qwik Supply Chain emerged as the third largest donor, contributing a staggering Rs 410 crores through electoral bonds. These bonds, now declared unconstitutional by the Supreme Court, were used to funnel substantial funds to political parties.
Recent investigations into the company's corporate accounts have confirmed its ties to the Reliance Group, raising questions about the transparency and accountability of political financing. Despite recording a net profit of only Rs 21.72 crores in the financial year 2021-22, Qwik Supply Chain continued its substantial donations, totaling an additional Rs 50 crores in the following fiscal year.
The intricate web of relationships extends further, with six companies holding shares in Qwik Supply Chain. Among these companies are entities such as Gujarat Petcoke and Petroproducts Supply Private Limited, whose director, Parimal Dhiraklal Nathwani, has close ties to the Reliance Group.
These revelations underscore the need for greater scrutiny and regulation of corporate influence in political financing. The Reporters Collective will continue to investigate this developing story and uncover the full extent of the connections between Qwik Supply Chain, the Reliance Group, and political entities. Stay tuned for further updates on this evolving investigation.
