write the clauses of Regulating act
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Provisions of the Regulating Act
The Act limited Company dividends to 6% until it repaid a £1.5m loan (passed by an accompanying act, 13 Geo. 3 c. 64) and restricted the Court of Directors to four-year terms. First step taken by the British government to regulate and control the company's affairs in India.
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This act was passed due to the misgovernment by the British East India government that introduced a situation of bankruptcy and the government had to interfere with the affairs of the Company. ... This article talks about the Regulating Act of 1773.
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