Indian Man's Historic Acquisition

Introduction: Sanjiv Mehta, an Indian businessman, made history by acquiring the legendary East India Company, marking a momentous milestone in the company’s 400-year-old journey. Let’s delve deeper into the story of this remarkable acquisition and learn more about the man who reversed history by purchasing the company that once colonized India for more than two centuries.

Who Is Sanjiv Mehta?

Sanjiv Mehta was born in October 1961 into a Gujarati family with a strong West connection.
His grandfather, Gafurchand Mehta, founded a diamond trading business in Belgium during the 1920s.
Sanjiv Mehta received his school and college education in India.
He attended Sydenham College in Mumbai.
He is an alumnus of the prestigious IIM Ahmedabad.
Mehta also holds a degree from the Gemological Institute of America in Los Angeles.
In the 1980s, Sanjiv Mehta moved to London and began his export business.
He achieved significant success with his venture “Huggie” hot water bottles.
By 1989, he expanded his business to various locations, including Warsaw, Berlin, St. Petersburg, Azerbaijan, and Yugoslavia.
He managed to attract major companies like Unilever and Nestlé as clients for his supply services.

East India Company

Tale of Acquiring the East India Company

The East India Company (EIC) is a highly recognized brand with a 400-year history.
The East India Company was established in 1600 by Elizabeth I and ruled India as the ‘jewel of the Crown.‘
At its peak, the EIC employed a third of the British workforce and dominated 50 percent of global trade.
On 1 January 1874, the company was dissolved after the Government of India Act transferred its powers to the Crown.
For several years, the East India Company remained dormant, existing only in memories and history books.
In 2003, a group of stockholders attempted to revive the East India Company as a company selling tea and coffee.
In 2005, Sanjiv Mehta became the sole owner of the East India Company after an 18-month buying spree.
With the acquisition of the East India Company, history had come full circle for Sanjiv Mehta.

The Mahindra Group’s And East India Company

Sanjiv Mehta had re-launched the company in London in August 2010.
The East India Company is a global luxury brand owned by Indian-origin entrepreneur Sanjiv Mehta.
In 2011, the Mahindra Group acquired a minority stake in the East India Company.
The Mahindra Group’s investment marked its association with this historic and prestigious brand.

FAQs about East India Company

Ques 1. What was the East India Company?

Answer: The East India Company was a historic British trading company established in 1600 by Queen Elizabeth I. It played a significant role in India and other parts of the world during its 400-year history.

Ques 2. What were the major activities of the East India Company?

Answer: The East India Company was primarily involved in trading goods such as spices, textiles, tea, and opium. It also played a major role in British expansion and colonization, particularly in India.

Ques 3. When and why did the East India Company cease to exist?

Answer: On January 1, 1874, the East India Company was dissolved after the Government of India Act transferred its powers to the British Crown. The company’s dissolution marked the end of its direct rule in India and the beginning of British colonial rule in the country.

Indian Man’s Historic Acquisition,Indian Man’s Historic Acquisition

Source : ZEE News

Read Also : What Is Conjunctivitis?