Vijay Ltd the famous group of promoters filed documents related to registration of the company with the registrar of companies on 8th March 2011. The Registrar after getting satisfied about the completion of formalities for registration, issued Certificate of Incorporation to the company on 12th March 2011. However, the date mentioned on certificate was 8th March. The company had entered into the contract of buying land from X ltd on 10th March 2011. Now X ltd is not interested in selling land as the value of the land is appreciated. It refused to honour the contract on the pretext of company not being in existence on 10th March, 2011 as the Registrar of the companies had issued certificate of incorporation on 12th March 2011. On the basis of the given information which of the below statements is false?
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no xtd cannot refuse contract as certificate of incorporation is conclusive evidence
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