Discussion
Insolvency and Bankruptcy Code was passed by Lok Sabha on ____
Answer: D
Correct answer: 5 May 2016
The Insolvency and Bankruptcy Code was passed by the Lok Sabha on 5 May 2016 and by the Rajya Sabha six days later, receiving assent on 28 May 2016. It replaced a scattered set of older laws with a single time-bound resolution process.
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