A company which ruled over swathes of India has closed for a second time. The original East India Company was founded by Royal Charter in 1600 and continued until 1874 when it was dissolved by the British Government.
In 2010, the company was revived by Indian entrepreneur, Sanjiv Mehta, who bought the rights to the East India Company name. Mr Mehta opened a shop in Mayfair, offering high-end goods including tea, spices and confectionery. But liquidators from Hudson Weir were appointed by creditors in October last year.
According to The Sunday Times, the company owed over £600,000 to parent company, the East India Company Group. It also owed £163,105 to employees and £193,789 in tax.
The business’s flagship premises in London’s New Bond…