The British East India Company secured de facto total control over India in the mid 18th century. It didn't become a Crown possession until after the 1857 rebellion. The BEOC had been operating as a monopolistic trading company since the early 17th century and in its area of operations it was effectively a corporate state under the powers granted by King James II.
'they are ones in control'
Obviously these companies operated in the context of a close relationship with their respective governments, but they were not branches thereof. Like all private companies, they operated so as to maximise the profits of their members. They had their supporters in the legislature and government, but the relationship with the state was far more complex than the King pointing and clicking. Take the BEOC for example- in 1698 an Act of Parliament established another east Indian trading company backed by an indemnity. When they eventually merged, BEOC bought renewal of its trade monopoly from the Treasury, and later did so again. Similarly, later in the 18th century it was found that there was practically no government oversight of Company affairs, hence why the Regulating and India Acts were enacted.
'Lets say you take over India'
Well the point i was making above is that these companies were frequently the vanguard of colonialism. For instance, the Crown did not take over India and give it to the BEOC. The BEOC received a mandate from the Crown, it then (over a period of a few decades) took over India.
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