Participants are invited to the 5th National Online Quiz on Insolvency and Bankruptcy Code, 2016 by IBBI. The last date of participation is August 31, 2024.

Quiz Details

The Insolvency and Bankruptcy Code, 2016 (IBC) provides a market mechanism for reorganisation 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 the recent years. Elucidating its importance, the Hon’ble Prime Minister in his address at 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 responsible for implementation of the IBC. It is responsible for development and regulation of insolvency professionals and other service providers. It regulates various processes, namely, corporate insolvency resolution, corporate liquidation, fresh start, individual insolvency resolution and individual bankruptcy. It acts as the ‘Authority’ for regulation and development of the profession of valuers.

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.

Guidelines

  • The Quiz shall be open on the MyGov portal for a period of one month from 1st August, 2024 to 31st August, 2024.
  • The Quiz is open to Indian citizens aged 18 years and above as on 1st August, 2024. 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 Quiz. A participant is required to self-certify that he/she is eligible to take the Quiz and also that he/she abides by these terms and conditions.
  • A participant needs to register on the MyGov portal before taking the Quiz. For registration, the participant needs to submit a valid mobile number and a valid e-mail ID. The same mobile number or email ID cannot be used twice for registration. This means that a participant can participate in the Quiz only once. In case of same mobile number/email id being used multiple times, only the first entry will be considered eligible, and the remaining entries will be eliminated.
  • The Quiz is available both in English and Hindi. A participant may choose either of the languages.
  •  The Quiz will have 20 (twenty) multiple choice questions, each carrying one mark. A participant will get 10 (ten) minutes to complete the Quiz. There will be no negative marking.
  • Any kind of malpractice, such as, impersonation, double participation, etc., will render the participation of the individual null and void.

Prizes

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

Interested participants can participate online via this link.

Participation Deadline

The last date of participation is August 31, 2024.

Click here to view the official notification of 5th National Online Quiz on Insolvency and Bankruptcy Code, 2016 by IBBI.