GOVERNMENT OF INDIA

NATIONAL ONLINE QUIZ ON INSOLVENCY AND BANKRUPTCY CODE, 2016 (IBC)

Start Date : 1 Jul 2020, 12:00 am
End Date : 31 Jul 2020, 11:59 pm
Closed
  • 20

    Score
  • 20

    Questions
  • 600

    Seconds
Read the following instructions carefully.
  • 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.
  • The quiz will start as soon as you click the Start Quiz button.

Preview

About Quiz

1. 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.

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

“साथियो, आजकल Insolvency और bankruptcy code IBC की इतनी चर्चा होती है, लेकिन ये सिर्फ इतना पैसा वापस आया, उतना पैसा वापस आया- वहां तक ही सीमित रहती है। लेकिन वो उससे भी आगे है। आप सभी ये बेहतर जानते हैं कि कुछ स्थितियों में धंधे से बाहर निकलना ही कई बाए समझदारी माना जाता है। ये जरूरी नहीं की जो कंपनी सफल न हो रही हो, उसके पीछे कोई  साजिश ही हो, कोई गलत इरादा हो, कोई लालच हो; ये जरूरी नहीं है। देश में ऐसे उद्यमियों के लिए एक रास्ता तैयार करना आवश्यक था और IBC ने इस का आधार तय किया। आज नहीं तो कल, इस बात पर अध्ययन जरूर होगा कि IBC ने कितने भारतीय उद्यमियों का भविष्य बचाया, उन्हें हमेशा-हमेशा के लिए बर्बाद होने से रोका।”

3. 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.

4. To promote awareness and understanding of the IBC among various stakeholders across the country, the IBBI has launched this online Quiz in collaboration with MyGov.in

5. The Quiz is open from 1st July, 2020 to 31stJuly, 2020.

6. Click here to read more details about the quiz

 

 

Terms and Conditions

  • The Quiz shall be open on the MyGov portal https://quiz.mygov.in for a period of one month from 1stJuly, 2020 to 31st July, 2020.
  • The Quiz is open to Indian citizens aged 18 years and above. Individuals working in IBBI (permanent and contractual), service providers under the IBC and registered with IBBI andalso their immediate family members are not permitted 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.
  • One needs to register on the MyGov portal before taking the Quiz. For registration, you need to submit an active valid mobile number and anactive e-mail ID. The same mobile number or e-mail ID cannot be used twice for registration. This means that you can participate in the Quiz only once.
  • The Quiz is available both in English and Hindi.
  • The Quiz will have 20 (twenty) questions, each carrying one mark. One will get 10 (ten) minutes to complete the Quiz.
  • Any kind of malpractice, such as, impersonation, double participation, etc., will render the participation of the individual null and void.
  • 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 score of 20, the individuals with score of 19 will be ranked, and so on.
  • The best performer will be awarded a Gold Medal along with a cash prize of Rs.1,00,000 (One lakh rupees only). The second-best performer will be awarded a Silver Medal along with a cash prize of Rs.50,000 (Fifty thousand rupees only). The third-best performer will be awarded a Bronze Medal along with a cash prize of Rs.25,000 (Twenty-five thousand rupees only). These medals will be given away at an appropriate function to be decided by the IBBI.
  • Besides the above, top 10% of the participants in terms of performance shall be issued a “Certificate of Merit”.
  • After the closure of the Quiz, and prior to the announcement of results, the winners of Gold, Silver and Bronze Medals 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.
  • In case of any dispute, the decision of the IBBI shall be final.
  • By participating in the Quiz, the participant agrees to have read and accepted the above-mentioned terms and conditions.