1600, Queen Elizabeth of England approved the request of a wealthy businessman in London, allowing the organization of the "London Supervisor Businessmen East India Company", which was the beginning of the history of the British East India Company. When the British East India Company was established, the British King granted the concession: 1. Other companies are prohibited from competing with the company in East India; 2. You can carry 30,000 Jin of gold and silver with you on each voyage, and the British goods you carry with you are exempt from export tax; 3. The license is valid for 15 years, and can be extended at that time.
This kind of franchise company obtains the franchise right from the king and the trade monopoly privilege. The nature of the articles of association is equivalent to the articles of association of the company, and it can also be regarded as the original company legislation or the modified form of company legislation, with the national seal affixed, stipulating the nature, privileges and powers of the company. When a businessman obtains a special license, the company obtains legal personality. The British East India Company is not only a franchise company, but also a joint-stock company. From the establishment of the company to16 17 years, the number of shareholders increased from 100 to 954, and the total share capital soared from 68,373 to1620,000. The total capital 1708 was at the time of its establishment. At that time, the shares were transferable and there was no identity restriction for shareholders, so the company's capital was permanent. For this kind of company, there was no general legal provision in Britain at that time. In fact, the charter plays the role of company legislation. During the franchise period, the greatest achievement of British company legislation was to establish the company's independent legal person status during the James I period (1566 June19 ~1625 March 27th).
The huge benefits of Indian colonial trade prompted British businessmen excluded from the East India Company to set up a new British East India Company in London on 1689 to compete with the original British East India Company. As the competition affected the financial revenue of the British government, in 1702, the old and new companies merged under the auspices of Congress and were named "British Business Joint Company in India", which is still called the British East India Company. Since then, the British East India Company has begun a new era of larger-scale colonial aggression against India. The huge wealth plundered by the British East India Company from India continuously flowed back to Britain, which effectively accelerated the industrial revolution in Britain and caused a fatal crisis to the British East India Company.
/kloc-in the second half of the 0/8th century, the industrial revolution developed rapidly in Britain. With the development of industrial capitalism, the demand for raw material supply and commodity sales market is more and more urgent. The monopoly of the British East India Company on India has become a serious obstacle for the British industrial bourgeoisie to turn India into a raw material supplier and a commodity sales market, and the British industrial bourgeoisie is increasingly dissatisfied with the East India Company. At the same time, the brutal plunder of India by the British East India Company, especially the destructive plunder of Ugara, brought the local economy to the brink of bankruptcy, seriously affected the income of the company's shareholders, and also caused strong dissatisfaction among London millionaires with the company. Therefore, how to manage India has become a prominent issue in British domestic political life.
1784, driven by the industrial bourgeoisie, the British Parliament passed the India Act aimed at weakening the economic and political monopoly position of the East India Company in India. The details are as follows: 1. The administrative and military affairs of the East India Company in India were taken over by the British government, and the company only managed the trade business; 2. The British Parliament has set up a six-member supervisory committee appointed by the British King to supervise and guide Indian affairs. Although this bill weakened the power of the British East India Company in India, it did not meet the requirements of the British industrial bourgeoisie to open up Indian trade. The India Act until 18 13 completely abolished the monopoly of the British East India Company on Indian trade, making India a vast world for British industrial products to compete freely.
During this period, British company law formed a unique capital principle-authorized capital system. This system was later adopted by common law countries. The original meaning of authorized capital system is that the issuance of company shares is based on government authorization. During the franchise period, some franchise companies were established according to authorization, and issued shares to absorb capital, among which the East India Company was the most typical. The relevant provisions of British company law show that although the total capital is recorded in the articles of association when the company is established, the promoters are not required to subscribe in full. A company can be established only by subscribing a part of the total capital contribution. For the unsubscribed part, the board of directors is authorized to issue new shares at any time as needed. There is no need to make registration changes.
The East India Company played a great role in the British colonial aggression and crazy plunder of India. In 1950s, British industrial capitalism was in full swing, and under the attack of Indian national uprising, it completed its historical mission and finally ended two and a half centuries of evil history. However, it is undeniable that its existence and development have promoted the progress of British company legislation, and made Britain form typical company systems such as company system, stock issuance system and authorized capital system!