solve this case.
The principal business of XYZ company ltd. was the acquisition of vacant plots of land and to erect the houses. In the course of transacting the business, the chairman of the company acquired the knowledge of arranging finance for the development of land. The XYZ company introduced a financier to another company ABC ltd. and received and agreed fee of Rs. 2 lakhs for arranging the finance. The MOA of the company authorises the company to carry on any other trade or business which can in the opinion of the board of Directors, be advantageously carried on by the company in connection with the company's general business. Referring to the provision of the companies act, 1956, examine the validity of the contract carried out by XYZ company ltd. with ABC ltd.
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