CHARTER OF 1600 The East India Company, with its official title as “ The Governor And Company Of Merchants Of London Trading Into East Indies ” was incorporated in E ngland on the 31st december 1600, by a charter of Q ueen Elizabeth which settled its constitution, powers and privileges.
PROVISIONS The company was to have a life span of 15 years Charter could be revoked also on two years’ notice Exclusive trading rights to company India, asia , africa and america fall within their geographical limits. Without a licence from company no british subject could carry on the trade
PROVISIONS CONTD…. Unauthorized traders were liable to forfeiture of ships and merchandise. The affairs of the company were to be conducted on democratic lines. Governor + 24 directors + share holders.
SHORTCOMINGS The legislative powers thus conferred on the company was very limited. Serious crimes could not be adequately dealt with. No power to the company for governing any territory.
CHARTER OF 1661 Company prayed for grant of more powers. 3 April, 1661, Charles II granted a new charter. Authorized the company to judge all the persons, whether belonging to the company or living under them. Authorized all punishments including death sentence.
FEATURES Charter had the following two features :- The judicial power was granted to the Governor and Council of a factory, which meant the executive government of the place. Thus drew no line of demarcation between the executive and the judiciary. Justice was required to be administered according to the English law.