when was the monopoly of east india company in trade brought under the control of british crown
1858
title: East India Company text: the Indian Mutiny or Sepoy Mutiny) resulted in widespread devastation in India: many condemned the East India Company for permitting the events to occur. In the aftermath of the Rebellion, under the provisions of the Government of India Act 1858, the British Government nationalised the company. The Crown took over its Indian possessions, its administrative powers and machinery, and its armed forces. The company remained in existence in vestigial form, continuing to manage the tea trade on behalf of the British Government (and the supply of Saint Helena) until the East India Stock Dividend Redemption Act 1873 came into effect, title: East India Company text: the Crown. Initially, the Council consisted of Lt. General Sir John Clavering, The Honourable Sir George Monson, Sir Richard Barwell, and Sir Philip Francis. Hastings was entrusted with the power of war and peace. British judges and magistrates would also be sent to India to administer the legal system. The Governor General and the council would have complete legislative powers. The company was allowed to maintain its virtual monopoly over trade in exchange for the biennial sum and was obligated to export a minimum quantity of goods yearly to Britain. The costs of administration were to be met by the title: Company rule in India text: Governor-General, Warren Hastings, and became directly involved in governance. By 1818, with the defeat of the Marathas, followed by the pensioning of the Peshwa and the annexation of his territories, British supremacy in India was complete. The East India Company was a private company owned by stockholders and reporting to a board of directors in London. Originally formed as a monopoly on trade, it increasingly took on governmental powers with its own army and judiciary. It seldom turned a profit, as employees diverted funds into their own pockets. The British government had little control, and there was increasing anger at title: East India Company text: to rule large areas of India with its private armies, exercising military power and assuming administrative functions. Company rule in India effectively began in 1757 and lasted until 1858, when, following the Indian Rebellion of 1857, the Government of India Act 1858 led to the British Crown's assuming direct control of the Indian subcontinent in the form of the new British Raj. Despite frequent government intervention, the company had recurring problems with its finances. It was dissolved in 1874 as a result of the East India Stock Dividend Redemption Act passed one year earlier, as the Government of India Act title: Charter Act of 1813 text: Charter Act of 1813 The East India Company Act 1813, also known as the Charter Act 1813, was an Act of the Parliament of the United Kingdom which renewed the charter issued to the British East India Company, and continued the Company's rule in India. However, the Company's commercial monopoly was ended, except for the tea and opium trade and the trade with China, this reflecting the growth of British power in India 1. The Act expressly asserted the Crown's sovereignty over British India. 2. It allotted Rs 100,000 to promote education in Indian masses and allowed them to open