The ambitions of the company knew no bounds. The company wanted to get political powers too. The simple reason for this was to create an ease of trading. And to easily remove any competitors. So they requested the English King to bestow more powers on them. To enable them to generate more profits.
Around the year 1670, the English King Charles II, granted rights to the East India Company to acquire territories. Hold political power, Mint money, Oversee civil and criminal jurisdiction in their territories. Not only this, they could even have a private army form alliances, and even declare wars.
Today, it sounds quite unbelievable because when we think of companies now, companies like Apple, Google, Facebook, can you imagine these companies having so much power that they have their private armies, their independent justice systems, be able to print their money, and go to war with other countries. Thankfully, this isn’t possible nowadays.
