1773 The East India Company was in dire financial straits and had requested the British Government for assistance. in 1773 the British Government enacted the Regulating Act to regulate the company's activities.This act was the turning stone for British rule in India.
Pitt's India Act Named after British Prime Minister William Pitt , the act provided for the creation of a Board of Control, and established the Company and the Crown with the Government having the sole authority for a joint government in British India.
The Act of 1784 provided for the selection of no more than six private counselors, including a Secretary of State and the Chancellor of the Exchequer "Commissars for India's Affairs." Not less than three of these organized a Board to conduct the powers granted by the Act.Henceforth, the Board should "superintend, guide and regulate"(Indian Affairs ) the Government of the Company's assets, essentially overseeing the Company's political , military and income actions and operations.
Until the end of the company's rule in India in 1858, the constitution established by Pitt's India Act had undergone no significant changes.