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Shahmeer who is the owner of Shahmeer Industries, has an established business of furniture manufacture

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Shahmeer who is the owner of Shahmeer Industries, has an established

business of furniture manufacture. In the course of his business, he received a consignment of old furniture which was cracked. He, knowing that people buy antique furniture for collection purposes, polishes and fills the cracks and sells the furniture to Abdullah as an antique used by the Lord Mountbatten, the last viceroy of British India, in a value five times the original worth. Keeping the Shahmeer's knowledge and intentions in mind, is the contract valid under Contract Act 1872?