Definition: In this task, you are given a passage and a question regarding that passage. You must determine whether or not the question is answerable from the given passage. If a question is answerable, output should be 'True', otherwise 'False'. You must not consider any other information that is not provided in the passage while labelling True or False.
Input: Passage: Britain's imperialist ambitions can be seen as early as the sixteenth century. In 1599 the British East India Company was established and was chartered by Queen Elizabeth in the following year. With the establishment of trading posts in India, the British were able to maintain strength relative to others empires such as the Portuguese who already had set up trading posts in India. In 1767 political activity caused exploitation of the East India Company causing the plundering of the local economy, almost bringing the company into bankruptcy. Question:  What happened to the East India Trading Company in 1766?

False