Rajya Sabha passed the Insolvency and Bankruptcy Code Bill 2016, which statement is not true in this regard?

This bill has been passed by Lok Sabha on 5th May 2016.

This bill will help in improving India's ranking in the World Bank's business index.

The Bill is based on the recommendations of a Joint Parliamentary Committee.

This bill was prepared on the basis of the Insolvency and Bankruptcy Code 2015, headed by Keshav Mehta.

Rajya Sabha passed the Insolvency and Bankruptcy Code Bill 2016, which

1.	Rajya Sabha passed the Insolvency and Bankruptcy Code Bill 2016, which statement is not true in this regard?
A.	This bill has been passed by Lok Sabha on 5th May 2016.
B.	This bill will help in improving India's ranking in the World Bank's business index.
C.	The Bill is based on the recommendations of a Joint Parliamentary Committee.
D.	This bill was prepared on the basis of the Insolvency and Bankruptcy Code 2015, headed by Keshav Mehta.
Answer» E.