Posted by Govt of India is organizing 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) 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.in.
Eligibility
The Quiz is open to Indian citizens aged 18 years and above as on 31st July, 2021. 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.
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 basis of maximum number of correct answers.
- In case of multiple participants having given same number of correct answers, the participants who take the least time to complete the quiz will be adjudged the winner.
- You can skip a tough question and come back to it later.
Registration
Interested candidates can play the online quiz via this page.
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.
Click here to view the official details of 2nd National Online Quiz on Insolvency and Bankruptcy Code-2016 by Govt of India.
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