Srimad Bhagvata Mahapurana: Book 8: Chapter 15: Verses 25-36
Conquest of heaven by Bali
"The undertaking of Bali, our old enemy, is great, 0 worshipful one ! (To tell you the truth,) I account him irresistible; by what power has he become so strong? (In fact,) none is able on any account whatsoever to beat him back. As though drinking in this (universe) with his mouth and licking the ten directions (with his tongue) and burning the (four) quarters with his (fire-shot) eyes, he has sprung (upon us) like the fire of final dissolution. (Pray,) point out (to me) the cause of such formidableness of my foe, from which have proceeded the strength of his organs, mind and body as well as his glory, whence this thorough effort (on his part) has been possible.
The preceptor (the sage Brhaspati) replied: I know, O Indra, the cause of the rise of yonder enemy of yours. (Surely) by the Bhrgus (Sukracarya and the other scions of the sage Bhrgu), who are (all) exponents of the Vedas, (their own spiritual) energy has been infused into their disciple (in return for his having surrendered his all to the Bhrgus). Barring (of course) the almighty Sri Hari, none like you nor even you can stand before him any more than created beings can stand before Death. Therefore, quitting heaven, go you all out of sight, awaiting a (favourable) time which may bring a reverse (of fortune) for your enemy. Rising more and more by the (spiritual) strength of the Brahmanas, he is at the height of power today. By insulting those very Brahmanas (the Bhrgus) he will perish with (all) his wealth and so on. Having thus been offered a wise counsel about their (course of) conduct by the preceptor (the sage Brhaspati), who could foresee things in their reality, the said gods went out of paradise, capable as they were of assuming any shape at will.
The gods having disappeared, Bali, the son of Virocana, forthwith occupied the city of Amaravati (the city of the gods) and brought under subjection all the three worlds (heaven, earth and the intermediate region). Full of affection for their disciples, the Bhrgus got their aforesaid disciple (Bali), who had (now) conquered the universe and was (fully) devoted to them, to propitiate the Lord by means of a hundred horse-sacrifices (in order to stabilize his dominion). Diffusing virtue of those sacrifices in (all) the quarters (even beyond the three worlds) his renown, already well-known all over the three worlds, Bali now shone like the moon (the lord of the stars). And, considering himself as having accomplished all his objects as it were, the high-minded Bali enjoyed the overflowing wealth (most prosperous kingdom) bestowed on him by the Brahmanas (the adored among the twice-born).
Thus ends the fifteenth discourse, in Book Eight of the great and glorious
Bhagavata-Purana, otherwise known as the