Qwik Supply, a company linked to Reliance Industries, has come under scrutiny for buying electoral bonds worth ₹410 crore between FY 2021-22 and 2023-24. It has been revealed that Qwik Supply is now the third-largest buyer of electoral bonds. However, Reliance Industries has denied that Qwik Supply is its subsidiary.

The controversy arose when it was discovered that Qwik Supply had purchased electoral bonds worth a significant amount. Electoral bonds are a financial instrument used for making donations to political parties in India.

Reliance Industries, one of the biggest conglomerates in India, has stated that Qwik Supply is not its subsidiary and that it operates independently. However, the company’s association with Reliance Industries has raised questions about its true nature.

Electoral bonds were introduced in 2018 to promote transparency in political funding. These bonds can be purchased by any eligible citizen or institution, who can then donate it to a political party of their choice.

The fact that Qwik Supply has purchased such a large number of electoral bonds has sparked concerns about potential political influence. Critics argue that by buying a significant amount of electoral bonds, a company can gain favor from the political party it supports.

Reliance Industries has faced criticism in the past for its alleged proximity to political leaders and its influence in decision-making processes. The current controversy surrounding Qwik Supply adds to these concerns.

It remains to be seen how this controversy will unfold and what actions, if any, will be taken to address the concerns raised. As of now, Qwik Supply continues to maintain its independence from Reliance Industries.