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Consider the following statements:
1. The Charter Act, 1853 abolished East India Company monopoly of Indian trade.
2. Under the Government of India Act, 1858 the British Parliament abolished the rule of East India Company and undertook the responsibility of ruling India directly.
Which of the statement(s) given above is/are correct? [2006]
1) 1 only
2) 2 only
3) Both 1 and 2
4) Neither 1 nor 2
2) 2 only