why was the Regulating Act of 1773 passed ? What were the major provisions of the Act ?
Answers
Answer:
The chaotic situation brought about by the misgovernment of Bengal forced the British parliament to enquire into the affairs of the East India Company. This revealed gross malpractices of the senior officials of the company. The company was also facing a financial crisis at this time and had applied to the British government for a loan of one million pounds. The British Parliament found it necessary to regulate the activities of the company in India and for this, the Regulating act of 1773 was passed.
Answer:
The Regulating Act of 1773 (formally, the East India Company Act 1772) was an Act of the Parliament of Great Britain intended to overhaul the management of the East India Company's rule in India.[1] The Act did not prove to be a long-term solution to concerns over the Company's affairs; Pitt's India Act was therefore subsequently enacted in 1784 as a more radical reform. It marked the first step towards parliamentary control over the Company and centralised administration in India.
Explanation:
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