Question: 9. Examine the validity of the following statement with reference to the provisions of the Companies Act, 2013. The Articles of Association of Y Limited

9. Examine the validity of the following statement with reference to

9. Examine the validity of the following statement with reference to the provisions of the Companies Act, 2013. "The Articles of Association of Y Limited contains a provision that the underwriting commission may be paid upto 4% of the issue price of the shares. However the Board of Directors have decided to pay the underwriting commission of 5% to Mind & Co., the underwriters

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