What were the East India Company Act 1786 and The East India Company Act of 1793?

The East India Company Act 1786
Act of 1786
In the year 1786, Lord Cornwallis was appointed as the Governor-General of Bengal and Commander in Chief in India.
He is known for having done many administrative and judicial reforms in India.
He has also reorganized the British army.
He placed two demands to the British Government before the acceptance of the post of Governor General of Bengal and these two demands were as under:
1. He should be given the power to override the decision of his council in special cases.
2. He should also be commander-in-chief of the company’s forces in India.
Accordingly, the Act of 1786 was enacted to make both the provisions.
The East India Company Act 1793
Charter Act of 1793
This Act extended the overriding power which was given by the Act of 1786 to Lord Cornwallis over his council to all the future governor-generals and governors of Presidencies.
It gave the Governor-General of Bengal more powers and control over the governors of subordinate Presidencies of Bombay and Madras.
It extended the trade monopoly of the East India Company in India for a further period of 20 years.
It also laid down that the members of Board of Control which was created by Pitt India Act of 1784 and their staff was, henceforth, to be paid out of the Indian revenue.
After making all expenses, the company had to pay the British Government Rs. 5 Lakhs from the Indian revenue annually.
Senior Company Officials were barred from leaving India without permission. If they did so, then it would be considered as a resignation.
The Company was granted the authority to grant licenses to individuals and company employees to carry on trade in India.
This Act separated the revenue administration and the judiciary functions of the company leading to disappearance of revenue Courts.