Question

The supreme court was set up under ______.
(A) Pitt’s India Act
(B) Regulating Act
(C) Indian Council Act, 1861
(D) Indian Council Act, 1892

Answer 1

Hint: It was an Act of the Parliament of Great Britain proposed to upgrade the administration of the East India Company's standard in India. The Act didn't end up being a drawn-out answer for worries over the organization's issues; Pitt's India Act was in this way therefore instituted in 1784 as a more extreme change. It denoted the initial move towards parliamentary command over the organization and concentrated organization in India.

Complete answer:
By 1773, the East India Company was in desperate monetary straits. The organization was critical to the British Empire since it was an imposing business model exchanging organization India and in the east and numerous compelling individuals were investors. The Company paid £400,000 (the present-day (2015) identical is £\[46.1\] million) yearly to the public authority to keep up the restraining infrastructure however had been not able to meet its responsibilities since 1768 as a result of the deficiency of tea deals to America. About $85\% $ of all the tea in America was pirated Dutch tea. The East India Company owed cash to both the Bank of England and the public authority: it had 15 million lbs ($6.8$ million kg) of tea decaying in British distribution centers and more in transit from India. The Regulating Act 1773, was supplemented by the Tea Act 1773, which had a foremost target that was to diminish the enormous measure of tea held by the monetarily pained British East India Company in its London distribution centers and to assist the monetarily striving organization with enduring.
Master North chose to upgrade the administration of the India Company with the Regulating Act. This was the initial step to the possible government control of India. The Act set up a framework whereby it was administered (controlled) crafted by the East India Company.

Thus, option (B) is correct.

Note: The organization had assumed control over huge zones of India for exchanging purposes and had a military to secure its inclinations. Organization men were not prepared to oversee so North's administration started moves towards government control since India was of public significance. Investors in the Company contradicted the Act. The East India Company was as yet an amazing campaigning bunch in Parliament notwithstanding its monetary issues.