Bali Mardana means Kṛṣṇa's name. Kṛṣṇa, as Vāmanadeva, He punished Bali Mahārāja by capturing his whole kingdom. Mardana means punishment. And after all, Bali Mahārāja became an authority, because he showed the example of surrendering everything, sarvātma-snapane, even his body. First of all he gave his kingdom.
Then, when it was not finished, then Kṛṣṇa demanded Vāmanadeva that "You have finished all your kingdom. Still you are debtor for one step, another. Where shall I keep another step?" So Bali Mahārāja said, "Yes. I have got still place on my head. You can place head on my . . . er . . . place Your step on my head." So he delivered his kingdom, his everything, at last his body, and Kṛṣṇa became purchased by him. And since then, Bali Mahārāja is one of the twelve authorities.