Consider the following statements: 1. The Charter Act 1853 abolished East India Company’s monopoly of Indian trade. 2. Under the Government of India Act,1858, the British Parliament abolished the East India company altogether and undertook the responsibility of ruling India directly. Which of the statements given above is/are correct

Consider the following statements: 1. The Charter Act 1853 abolished East India Company’s monopoly of Indian trade. 2. Under the Government of India Act,1858, the British Parliament abolished the East India company altogether and undertook the responsibility of ruling India directly. Which of the statements given above is/are correct?