Critique of the West in Indic literature and society

[Vidhyanath K. Rao]

> [...]   In the context of India's poverty being traceable to "Imperial
> theft", for example, in 1800 the East India Company was in debt to the
> tune of fourteen million pounds [Desmond, European Discovery of the
> Indian Flora, p.73], a debt that had reached nearly twenty-eight million
> pounds by 1807; [...]

What happened to the debt. I don't think that the EIC declared bankruptcy.
There were reform bills. Did the Royal treasury assume the debt? Or was
it paid off from later revuences of the EIC and the Crown from India?

Incidentally, how much off this debt can be attributed to buying of
artillary, firearms and associated supplies, and how much to pure
buniess losses?

And, Burke notwithstanding, we will ignore `off-the-table' transactions.
Surely the professionals in this list with access to decent libraries
can answer these questions.