Why Bali Maharaja is considered a Mahajana: Bali Maharaja is Mahajana because he wanted to serve Visnu by disobeying his non-bona fide spiritual master. As explained above, Sukracarya was hereditary spiritual master by seminic succession. But Bali Maharaja first revolted against this stereotyped seminic succession spiritual master, and therefore he is Mahajana. Srila Jiva Goswami has described in his Karamasandharvha that one should be anxious to accept a spiritual master who is bona fide in spiritual knowledge. And if need be one should relinquish the connection of hereditary spiritual master and accept a real bona fide spiritual master.
Letter to Satsvarupa, 3 July, 1968