Explanation:

Pitt’s India Act 1784 or the East India Company Act 1784 was passed in the British Parliament to rectify the defects of the Regulating Act 1773. It resulted in dual control or joint government in India by Crown in Great Britain and the British East India Company, with crown having ultimate authority.
For the 1st time company territories in India were called British possession in IndiaWith this act, East India Company’s political functions were differentiated from its commercial activities for the first time. The Pitts India act made the company directly subordinate to the British government. For the purpose of Joint Government, a Board of Commissioners for the Affairs of India called Board of Control was created.