The 3rd National Online Quiz on IBC (Insolvency and Bankruptcy Code), 2016 is being conducted by the Government of India, through IBBI (Insolvency and Bankruptcy Board of India) from April 16 to May 15, 2022.
About IBBI
The Insolvency and Bankruptcy Board of India is the regulator for overseeing insolvency proceedings and entities like Insolvency Professional Agencies, Insolvency Professionals and Information Utilities in India.
About the National Quiz on IBC 2016
To promote awareness and understanding of the IBC among various stakeholders (Indian citizens) across the country, the IBBI has launched this online Quiz in collaboration with MyGov.in.
The Insolvency and Bankruptcy Code, 2016 (IBC) provides a market mechanism for reorganization and insolvency resolution of corporate persons, partnership firms and individuals in a time-bound manner for maximization of value of assets of such persons, to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders. It is one of the deepest economic reforms of India in recent years.
Eligibility
- Indian citizens aged 18 years and above as on April 16, 2022
Ineligibility: Individuals working in IBBI and BSE Investors Protection Fund (permanent and contractual), service providers under the IBC and registered with IBBI, and also their immediate family members are not eligible to participate in the IBC 2016 online quiz.
Note: A participant must self-certify that he/she is eligible to take the Quiz and that he/she abides by these terms and conditions.
Details of the Quiz
- The quiz will have 20 MCQs, and each participant will get 10 (ten) minutes to complete the Quiz.
- There will be no negative marking. These questions will be randomly picked from the question bank.
- Winners will be adjudged based on the maximum number of correct answers.
- In case of multiple participants have given the same number of correct answers, the participants who take the least time to complete the quiz will be adjudged the winner.
- Participants can skip a tough question and come back to it later.
Awards and Prizes
- Best Performer: A Gold Medal + Cash Prize of ₹ 1,00,000/-
- 2nd-Best Performer: A Silver Medal + Cash prize of ₹ 50,000/-
- 3rd-Best Performer: A Bronze Medal + Cash prize of ₹ 25,000/-
- Ten (10) Best Performers: Consolation prizes of ₹ 10,000/- each.
- Top 10% performers shall be awarded “Certificate of Merit”
These prizes and medals are sponsored by BSE Investors Protection Fund, as part of its investor awareness initiatives.
These prizes and medals will be given away at an appropriate function to be decided by the IBBI.
How to Participate?
Registration: Interested candidates can participate in the online quiz by clicking on the link given at the end of this post.
Click here to participate in the IBC 2016 online quiz.
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Source: Lawctopus
