Saturday, October 16, 2021

2nd National Online Quiz on Insolvency and Bankruptcy Code by Govt of India [Aug 1-31] | Registrations Open

Govt of India is organizing the 2nd National Online Quiz on Insolvency and Bankruptcy Code-2016 from 1 to 31 August 2021. Interested and eligible candidates can play the quiz on the official website.

About the Quiz

The Insolvency and Bankruptcy Code, 2016 (IBC) gives a market mechanism for reorganization and insolvency resolution of corporate individuals, partnership companies, and people in a time-bound method for maximization of value of the property of such individuals, to promote entrepreneurship, availability of credit and stability the interests of all of the stakeholders. It is likely one of the deepest economic reforms of India within the current years. Elucidating its significance, the Hon’ble Prime Minister in his deal with the centenary celebrations of Kirloskar Group on 6th January 2020 observed:

The Insolvency and Bankruptcy Board of India (IBBI) is a key pillar of the ecosystem accountable for the implementation of the IBC. It is accountable for the growth and regulation of insolvency professionals and different service providers. It regulates various processes, specifically, company insolvency resolution, corporate liquidation, a fresh start, particular person insolvency decision, and particular person bankruptcy. It acts as the ‘Authority for regulation and growth of the profession of valuers.

To promote consciousness and understanding of the IBC amongst various stakeholders (Indian residents) throughout the nation, the IBBI has launched this online Quiz in collaboration with MyGov.in.

Eligibility

The Quiz is open to Indian residents aged 18 years and above as of 31st July 2021. Individuals working in IBBI and BSE Investors Protection Fund (everlasting and contractual), service providers under the IBC and registered with IBBI, and in addition, their fast relations are usually not eligible to participate within the Quiz. A participant is required to self-certify that he/she is eligible to take the Quiz and in addition that he/she abides by these terms and conditions.

Quiz details
  • This is a timed quiz with 20 questions to be answered in 600 seconds
  • These questions will be randomly picked from the question bank.
  • Winners will be adjudged on the idea of the most number of right answers.
  • In case of a number of participants having given an identical variety of right answers, the contributors who take the least time to complete the quiz will be adjudged the winner.
  • You can skip a tricky question and are available back to it later.
Registration

Interested candidates can play the online quiz through this page.

Prizes

The best performer will be awarded a Gold Medal together with a cash prize of ₹ 1,00,000/- (One lakh rupees only). The second-best performer will be awarded a Silver Medal together with a money prize of ₹ 50,000/- (Fifty thousand rupees only). The third finest performer will be awarded a Bronze Medal together with a money prize of ₹ 25,000/- (Twenty-five thousand rupees only).

The subsequent ten best performers will be awarded consolation prizes of ₹ 10,000/- (Ten thousand rupees only) each. These prizes and medals are sponsored by BSE Investors Protection Fund, as a part of its investor awareness initiatives. These prizes and medals will be given away at an appropriate function to be determined by the IBBI.

Click here to view the official details of the 2nd National Online Quiz on Insolvency and Bankruptcy Code-2016 by Govt of India.

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