A company was incorporated on 6th October, 2019. The certificate of incorporation of the company was issued by the Registrar on 15th October, 2019. The company on 10th October, 2019 entered into a contract which created its contractual liability. The company denies the said liability on the ground that company is not bound by the contract entered into prior to issuing of certificate of incorporation. Decide, under the provisions of the Companies Act 2017, whether the company can be exempted from the said contractual liability.