A.Passed in 2016, the Insolvency and Bankruptcy Code was formulated to make the process of shutting down and exiting a business easier and less time-consuming. B.The code aims to bring this down to within a year. C.When a firm defaults on its debt, its control will shift to a committee of creditors. D.Apart from helping companies, it was also expected to improve India’s rankings in the World Bank’s ease of doing business index. E.India currents ranks 130th overall — out of 189 countries — and 136th on the parameter of ‘resolving insolvency’, with the World Bank saying it takes four years to resolve a bankruptcy case.

A.Passed in 2016, the Insolvency and Bankruptcy Code was formulated to

1.	A.Passed in 2016, the Insolvency and Bankruptcy Code was formulated to make the process of shutting down and exiting a business easier and less time-consuming. B.The code aims to bring this down to within a year. C.When a firm defaults on its debt, its control will shift to a committee of creditors. D.Apart from helping companies, it was also expected to improve India’s rankings in the World Bank’s ease of doing business index. E.India currents ranks 130th overall — out of 189 countries — and 136th on the parameter of ‘resolving insolvency’, with the World Bank saying it takes four years to resolve a bankruptcy case.
A.	A
B.	B
C.	C
D.	D
E.	E
Answer» D. D

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