 The company had just lost its monopoly on trade on the far east and he also traded on India with his own fleet of merchant ships.He resigned from his position as director of the Danish Asia Company in 1776 after his double role had resulted in criticism from the other participants in the enterprise but was again elected as director in 1778.Conrad and Michael Fabritius were on 4 May that same year ennobled by letters patent under the name Fabritius de Tengnagel.