Consider the following statements about 'the Charter Act of 1813' : 1. It ended the trade monopoly of the East India Company in India except for trade in tea and trade with China. 2. It asserted the sovereignty of the British Crown over the Indian territories held by the Company. 3. The revenues of India were now controlled by the British Parliament. Which of the statements given above are correct?

Option (a) is correct because the Charter Act of 1813 abolished the East India Company’s trade monopoly in India—retaining it only for tea and trade with China—and explicitly asserted the British Crown's sovereignty over the Company’s territorial possessions. Statement 3 is incorrect because, while the Act mandated separate accounts for commercial and territorial revenues, direct Parliamentary control over Indian revenues was only established much later by the Government of India Act 1858. The core concept tested is the constitutional evolution of British rule and the gradual reduction of the Company’s commercial privileges in favor of Crown authority.