Read both the statements and choose the correct answer:

Statement I: The first English factory was set up on the banks of the river Hugli in 1651.

Statement II: The Company persuaded the Mughal emperor Akbar to issue a farman granting the Company the right to trade duty free.

1
Both (I) and (II) are true 
2
(I) is false but (II) is true
3
Both (I) and (II) are false
4
(I) is true but (II) is false

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