The British East India Company The East India Company chartered by the British crown and ultimately responsible to the parliament, launched British rule in India. The British East India Company was established under a Royal Charter of Queen Elizabeth I for 15 years for spice trading on 31st December 1600 AD with the capital of £70,000. By the middle of the eighteenth century, the company succeeded in establishing power in Bengal, Bihar, Orissa and the east coast. After the battle of Plassey, in 1757, they secured permission from the Mughals to collect land revenue from these provinces in return for an annual tribute and maintaining of order and peace. They collected the land revenues through the local Nawab and took control of his army. This gave them power without responsibility. The Company took control of Mysore by defeating Tipu Sultan in 1792 and the Marathas were finally defeated in 1817 AD - 1819 AD. Further the company expanded its rule by defeating Nepal in 1814-16, Sind in 1843, Punjab in 1848-49 and Burma in 1886. The  cruel management of the company ultimately lead to the mutiny of 1857, after which its rule over India ended and the British Crown officially took over the administration in 1858.