However, now this company is not a symbol of imperialism and only deals with business. But the interesting thing is that like centuries ago, a major business of this company is still related to tea and spices. Let us also tell you how the East India Company came to an end and now who is the owner of this company, Sanjeev Mehta?
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How did the UK company end?When India’s first independence revolution took place in 1857, Britain considered it as a mutiny or rebellion. Whatever it is, but its effect is quite big. The British administration and the government blamed the East India Company for the coming of the rebellion. After this freedom struggle, the British government nationalized the company by creating the Government of India Act in 1858.
The East India Company was formed on 31 December 1600.
This means that the kingdom of India went out of the company and went directly to the British dynasty. The exercise to liquidate the company had begun and in 1873 the East India Stock Dividend Redemption Act was enacted, which came into effect from 1 January 1874. The company was formally disbanded on 1 June 1874, when all payments were made.
How a renewed company?
After the company was demolished in the 19th century, it remained dormant for a long time and became a mere thing of history and books. The exercise to start it afresh began in 2003, when its shareholders for the tea and coffee business tried to revive it.
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Indian-origin entrepreneur Sanjeev Mehta worked hard in this entire exercise and named the company in 2005. Then Mehta completely transformed the company, focusing on tea, coffee and other foods. Mehta has repeated this while talking to the media several times:
After this, the East India Company expanded into many areas and in September this year the company was in the news because it had obtained a kind of mint permit of coins, including the last gold seal made in British India in 1918 Permit was also included. Now this company interferes in many sectors like travel, cigars, gin, lifestyle, natural resources and food.
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The present East India Company is active in many sectors.
Who is Sanjeev Mehta?
Mehta, born in London with his microbiologist wife Amy and son Arjun and daughter Anushka, was born in a Gujarati family in Mumbai. Mehta’s grandfather Gafurchand Mehta started the diamond business in Europe from the 1920s, which was further spread by his father Mahendra. Gafurchand returned to India in 1938.
Sanjeev Mehta was educated first at Sydenham College in Mumbai and then he received his education in gems in Los Angeles. After his father joined the diamond business in 1983, he spread the business to Gulf countries, Hong Kong and the US. Mehta settled in London from India in 1989 and also maintained the business of exporting domestic products to India.
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With the help of pharma sector businessman father-in-law Jashubhai Shah, Mehta also established his business in Russia. Mehta, who exports products of Hindustan Liver to many countries, made an empire in many areas. Not only this, along with Mahindra of India and Lulu Group of UAE, they also received investments from several industrial groups.