1)Modem Jewellery Ltd. decides to pay 5% of the issue price gap of shares as underwriting commission to the underwriters, but the Articles of the company authorize only 4% underwriting commission on shares. Examine the validity of the above decision under the provision of the Companies Act, 2013.

Answer rating: 100% (QA)

Answer Section 406 of the Companies Act 2013 provides that a company may pay a commissio... View the full answer