Srimad Bhagvata Mahapurana: Book 8: Chapter 22: Verses 24-36
A dialogue between king Bali and Lord Vamana
The glorious Lord replied : I take away the fortune (and power etc.) of whomsoever I show My grace to, O Brahma! For, intoxicated with wealth (and power etc.) a person becomes stiff (with pride) and disregards the world and (even) Myself. Passing through diverse wombs (states of existence) according to its actions, this Jivatma (individual soul), dependent as it is, seldom attains to the human state. On the part of him (however) in whom pride does not appear in consequence of pedigree, (meritorious) actions, youth, comeliness of form, learning, power, affluence and so on, this (absence of pride) should be regarded as (a token of) My grace (and in that exceptional case I am not reduced to the painful necessity of stripping him of his possessions). Of course, one devoted to Me does not get infatuated in spite of (his) high birth and so on, which are not only conducive to pride and vanity but are in everyway opposed to (the attainment of) all forms of blessedness. This Bali, the leader of the Danavas and Daityas and the promoter of their glory, has (already) conquered My invincible Maya (deluding potency).
(That is why) though in distress, he does not feel perplexed; Though impoverished and fallen from his position, (nay,) reproached and tied down by his enemies, forsaken by his kinsfolk (who have fled to Rasatala) and subjected to (bodily) torture (by being tied down), and though twitted and cursed by his preceptor (Sukracarya), this demon of firm resolve did not abandon truth (retract his promise). (Even) when taught Dharma (righteousness) by recourse to ambiguous expressions by Me, he would not give up righteousness, truthful as he is. He has been all but sent to My (divine) realm, difficult of access even to gods. (But before he is sent there) he will be lndra (the Lord of paradise) under My protection during the Manvantara presided over by (the Manu called) Savarni (because he wished to enjoy the position of lndra). Till then let him occupy (rule over) the (subterranean) region of Sutala, whose (artificial) beauty has been enhanced by Viswakarma (the architect of heaven). Agonies and ailments, fatigue; drowsiness, mortification and troubles (of various kinds) will never overtake the denizens of that region due to My (gracious) look. Indrasena, O great king, may good betide you; surrounded by (your) kinsfolk, go to Sutala, which is worthy of being sought after (even) by gods. Not even the guardians of the (various) worlds, much less others, will (be able to) overpower you. (And) My discus (Sudarsana) will put an end to the Daityas that may violate your commands. I shall protect from all dangers you as well as your followers and possessions (too). (Nay,) you will ever find Me present there, O heroic king ! Any demoniac idea suggesting itself to you there due to the company of Danavas and Daityas will be undoubtedly checked at once at the sight of My glory and die out.
Thus ends the twenty-second discourse entitled 'A dialogue between king
Bali and Lord Vamana",comprised in the story of the descent of the divine Dwarf, in Book Eight of the great and glorious Bhagavata-Purana, otherwise known as the Paramahamsa-Samhita.