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After the Indian Rebellion of 1857, the British East India Company, which had ruled much of India, was dissolved, and Britain's possessions and protectorates on the Indian subcontinent were formally incorporated into the British Empire. The Queen had a relatively balanced view of the conflict, and condemned atrocities on both sides. She wrote of "her feelings of horror and regret at the result of this bloody civil war", and insisted, urged on by Albert, that an official proclamation announcing the transfer of power from the company to the state "should breathe feelings of generosity, benevolence and religious toleration". At her behest, a reference threatening the "undermining of native religions and customs" was replaced by a passage guaranteeing religious freedom.
What happened to the assets of the British East India Company after it was removed from power?
formally incorporated into the British Empire