The East India Company, which once owned India, is now owned by an Indian Industrialist Sanjiv Mehta. The company, which once ruled a large part of the world including India, once had an army of millions, its own intelligence agency and even the right to collect tax. With Sanjiv Mehta procuring the company, it is now owned by an Indian entrepreneur.
The East India Company was established in 1600. At that time, Elizabeth I was Queen of Britain and she gave the East India Company an open leeway to do business in Asia.
Initially, the Company used to import spices, tea and exceptional products from India to Europe. The Company spread most of its business to the Indian subcontinent.
After the 1857 revolt, after its own soldiers rose in rebellion against the British and the East India Company, it was disbanded.
After more than 135 years, Sanjiv Mehta stepped in the East India Company in 2005 and created a new brand in the luxury tea, coffee and food items business. It gave a unique identity to the Company. Sanjiv Mehta opened the first store of the East India Company Mayfair, London.
Purchasing the shares meant emotional closure for Sanjiv Mehta, who as an Indian is acquainted with the historical backdrop of the Company’s forceful trade policies and misuse of the Indian subcontinent. When Sanjiv Mehta came to know that the Company’s shares were up for sale, he told himself “no matter the cost”.
“A company which once owned India is now owned by an Indian … a feeling of the empire striking back,” says Sanjiv Mehta. The Company, which once was known for its aggressiveness, is now a very compassionate company.
On September 8, Sanjiv Mehta has earned the permit to trade under the cost of arms and seal of the Company. He additionally has the options to mint coins, including a Mohur gold coin that was last minted in 1918 in British India.