National Online Quiz on Insolvency and Bankruptcy Code, 2016

About the Quiz

  • Start Date : 1 Jul 2023, 9:00 am
  • End Date : 31 Jul 2023, 11:45 pm
  • 20 Questions-600 Seconds
  • Rewards: Cash Prizes

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 in India in recent years. Elucidating its importance, the Hon’ble Prime Minister in his address at the centenary celebrations of the Kirloskar Group on 6th January 2020 observed:

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Terms and Conditions

  1. The Quiz shall be open on the MyGov portal ___________ for a period of one month from 1st July, 2023 to 31st July 2023.
  2. The Quiz is open to Indian citizens aged 18 years and above as on 1st July 2023. 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.
  3. 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 the same mobile number/email id being used multiple times, only the first entry will be considered eligible, and the remaining entries will be eliminated.
  4. The Quiz is available both in English and Hindi. A participant may choose either of the languages.
  5. 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.
  6. Any kind of malpractice, such as, impersonation, double participation, etc., will render the participation of the individual null and void.
  7. Performance in the Quiz will be evaluated based on “Maximum Correct Answers in the Shortest Time”. For example, if many individuals secure 20 marks, they will be ranked on the basis of the time taken to complete the Quiz, as electronically determined. The individual, who has completed the Quiz at the earliest shall be considered the best performer. After ranking the individuals with a score of 20, the individuals with a score of 19 will be ranked, and so on.
  8. 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.
  9. Besides the above, the top 10% of the participants in terms of performance shall be awarded a “Certificate of Merit”.
  10. After the closure of the Quiz, and prior to the announcement of results, the winners of cash prizes will be required to provide their identity details. Non-submission of these details will render their participation null and void and the next best performer will be chosen accordingly. The entries, if any, of cash prize winners of 1st, 2nd, and 3rd National Online Quiz, organized by IBBI in 2020, 2021, and 2022 respectively, will not be considered for the award of cash prizes.
  11. All participants who are already registered on the MyGov portal are advised to check and update their current, valid contact details (email ID and mobile number) in their MyGov profile/account, prior to playing the Quiz. All communications from the Board to the participants/winners will be made only on the contact details available with MyGov in their system.
  12. In case of any dispute, the decision of the IBBI shall be final.
  13. By participating in the Quiz, the participant agrees to have read and accepted the above-mentioned terms and conditions.
  14. For further details, please click here (give a link to brochure pdf).

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