The Insolvency and Bankruptcy Board of India (IBBI), in collaboration with MyGov.in, conducted a ‘National Online Quiz on Insolvency and Bankruptcy Code, 2016’ from 1st July to 31st July 2020, to promote awareness and understanding of the Code among various stakeholders across the country. The Quiz was open for all Indian citizens, above 18 years of age, except for individuals working in IBBI, service providers registered with IBBI, and also their immediate family members.
The Quiz received an overwhelming response with 1,25,781 (One lakh twenty-five thousand seven hundred and eighty-one) participants. There were participants from every State and every Union Territory. Uttar Pradesh accounted for the highest participation with 15.7% of total participants, followed by Maharashtra with 11.7% and Delhi with 6.9%.
Among the top 10% of participants, Maharashtra returned the highest number, accounting for 15% of them, followed by Delhi with 11.7% and Uttar Pradesh with 11.4%. About 51% of the top 10% of participants are in the age group of 18 to 25 years and more than 82% of them are in the age group of 18 to 35 years.
The Quiz received interest from a wide range of stakeholders, including students, professionals, and employees. About 29% of the top 10% performers are students or members of chartered accountancy, 9% are students or members of company secretaryship, and 7% are employees of banks and financial institutions.
In terms of Guidelines on the Quiz, the best performer is to be awarded a Gold Medal with a cash prize of Rs.1,00,000 (One lakh rupees), the second-best performer is to get a Silver Medal and a cash prize of Rs.50,000 (Fifty thousand rupees), and the third-best performer, a Bronze Medal and a cash prize of Rs.25,000 (Twenty-five thousand rupees). The following are the three best performers in the Quiz:
The awards to the best performers were given at the 4th Annual Day function of the IBBI on 01st October 2020 at New Delhi.