Which of the following is considered as ‘Magna Carta of the Company'?

The correct answer is Farrukhsiyar’s Farmans.

​Key Points

• In 1717, the Mughal Emperor Farrukhsiyar’s Farmans, called the Magna Carta of the East India Company, gave significant privileges to the company in Bengal, Gujarat, and Hyderabad.
  • Some of its important terms are:
    • In Bengal, the company's imports and exports were exempted from additional custom duties expecting the annual payment of 3,000 rupees as settled earlier.
    • The company was permitted to issue dastaks (passes) for the transportation of such goods.
    • The company was permitted to rent more lands around Calcutta.
    • In Hyderabad, the Company retained its existing privilege of freedom from duties in trade and had to pay the prevailing rent only for Madras.
    • In Surat, for an annual payment of 10,000 rupees, the Company was exempted from the levy of all duties.
    • It was declared that the coins of the Company minted at Bombay were to have currency throughout the Mughal empire.