Tag: how the traders became rulers

A  Court of Directors was created at London to oversee the affairs of East India Company in India. Under Regulating Act. 

Governors of Madras and Bombay presidencies were brought under the control of Governor General of Bengal. Under the Regulating Act.

The Regulating Act of 1773 was first act of British Parliament to exercise indirect control over the affairs of East India Company's rule in India.

By 1773, the East India Company was in deep financial trouble. the East India Company owed money to both the Bank of England and the Government.

Governor General-in-Council was created with Governor General as head and with four members of the Council to control Legislative and Executive functions.

By a supplementary act passed in 1786 lord Cornwallis was appointed as the second Governor-General of Bengal, and he then became the effective ruler of British India under the authority of the Board of Control and the Court of Directors.

The institution of Governor general-in-Council was created with Governor General as head and with four other members to carry out Legislative & Executive functions.

A Board of Control was created at London with six members, two of whom were members of the British Cabinet and the remaining from the Privy Council. The Board also had a president, who soon effectively became the minister for the affairs of the East India Company.

The East India Company Act 1784 brought the affairs of east India Company in India under the control of the British Government.

The Governor of Madras and Bombay were clearly subordinated to the Governor General. the Governor-General was given greater powers in matters of was, revenue and diplomacy.