<P> The East India Company was one of the most powerful and enduring organizations in history and had a long lasting impact on the Indian Subcontinent, with both positive and harmful effects . Although dissolved by the East India Stock Dividend Redemption Act 1873 following the rebellion of 1857, it stimulated the growth of the British Empire . Its armies were to become the armies of British India after 1857, and it played a key role in introducing English as an official language in India . This also led to Macaulayism in the Indian subcontinent . </P> <P> Once the East India Company took over Bengal in the treaty of Allahabad (1765) it collected taxes which It used to further its expansion to the rest of India and did not have to rely on venture capital from London . It returned a high profit to those who risked original money for earlier ventures into Bengal . </P> <P> During the first century of the East India Company's expansion in India, most people in India lived under regional kings or Nawabs . By the late 18 century many Moghuls were weak in comparison to the rapidly expanding Company as it took over cities and land, built railways, roads and bridges . The first railway of 21 mile (33.8 km), known as the Great Indian Peninsula Railway ran between Bombay (Mumbai) and Tannah (Thane) in 1849 . The Company sought quick profits because the financial backers in England took high risks: their money for possible profits or losses through shipwrecks, wars or calamities . </P> <P> The increasingly large territory the Company was annexing and collecting taxes was also run by the local Nawabs . In essence, it was a dual administration . Between 1765 and 1772 Robert Clive gave the responsibility of tax collecting, diwani, to the Indian deputy and judicial and police responsibilities to other Indian deputies . The Company concentrated its new power of collecting revenue and left the responsibilities to the Indian agencies . The East India Company took the beginning steps of British takeover of power in India for centuries to come . In 1772 the Company made Warren Hastings, who had been in India with the Company since 1750, its first governor general to manage and overview all of the annexed lands . The dual administration system came to an end . </P>

When did the east india company faced a popular resistance