Discuss the regulating Act of 1773.
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Regulating Act of 1773:
- It was the chief parliamentary sanction and permission defining the powers and authority of the East India Company concerning its Indian possessions.
- It was based on the report submitted by Lord North.
- The East India Company came under the control of the Parliament.
- Regulating Act was declared by the British to control the east India company.
- Warren Hastings was appointed as the 'Governor-General of Bengal' for three presidencies of 'Calcutta, Bombay, and Madras'.
- As per this Act, the 'Supreme court was established in Calcutta' presently known as Kolkata.
- Governor-General was given the power to make rules, regulations with the permission of the supreme court to prevent no exchange of gifts is allowed and it was not fruitful for the British government.
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