Correct option is B
The Regulating Act of 1773 was passed by the British Parliament to regulate the affairs of the East India Company in India. It marked the first step by the British government to
• It established the Governor-General of Bengal (Warren Hastings was the first).
• Created an Executive Council of four members to assist the Governor-General.
• The Supreme Court was established at Calcutta in 1774.
• Aimed to curb corruption and regulate the company's finances and administration.
• It was followed by other acts like the Pitt’s India Act (1784) for further reforms.