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National Online Quiz on Insolvency and Bankruptcy Code,2016 from 1st July,2020 -31st Jul,2020
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....ational Online Quiz on Insolvency and Bankruptcy Code,2016 from 1st July,2020 -31st Jul,2020 <br>News and Press Release<br>Dated:- 24-6-2020<br><BR>============= Document 1 à¤à¤¾à¤°à¤¤à¥€à¤¯ दिवाला और शोधन अकà¥à¤·à¤®à¤¤à¤¾ बोरà¥à¤¡ HOC Insolvency and Bankruptcy Board of India सतà¥à¤¯à¤®à¥‡à¤µ जयते my GOV मेरी सरकार NATIONAL ONLINE QUIZ ON INSOLVENCY AND BANKRUPTCY CODE, 2016 (IBC) 1st JULY, 2020 - 31st JULY, 2020 st ÕÕÕÕÕˆ 2 nd WANT TO BE A WINNER? CONS QUIZ 3rd ÕÕÕÕÕˆ....
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.... Rs.1,00,000/- Rs. 50,000/- Top 10% participants shall get "Certificate of Merit" Rs. 25,000/- Take a 10 minutes quiz from anywhere, any mobile/ computer, anytime! FOR DETAILS SCAN QR CODE Click here for Guidelines Click here for Sample Quiz Click here for Registration Click here for taking Quiz Guidelines on National Online Quiz on IBC T he 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 economi....
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....c reforms of India in the recent years. 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 चरà¥à¤šà¤¾ होती है, लेकिन ये सिरà¥à¤« इतना पैसा वापस आया, उतना पैसा वापस आया— वहां तà¤....
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....• ही सीमित रहती है। लेकिन वो उससे à¤à¥€ आगे है। आप सà¤à¥€ ये बेहतर जानते हैं कि कà¥à¤› सà¥à¤¥à¤¿à¤¤à¤¿à¤¯à¥‹à¤‚ में धंधे से बाहर निकलना ही कई बार समà¤à¤¦à¤¾à¤°à¥€ माना जाता है। ये à....
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....¤œà¤°à¥‚री 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 à¤à¤¸à¥‡ उदà¥à¤¯à¤®à¤¿à¤¯à¥‹à¤‚ के लिठà¤à¤• र....
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....¤¾à¤¸à¥à¤¤à¤¾ तैयार करना आवशà¥à¤¯à¤• था और IBC ने इसका आधार तय किया। आज नहीं तो कल, इस बात पर अधà¥à¤¯à¤¯à¤¨ जरूर होगा कि IBC ने कितने à¤à¤¾à¤°à¤¤à¥€à¤¯ उदà¥à¤¯à¤®à¤¿à¤¯à¥‹à¤‚ का à¤à¤µà¤¿à¤·à¥à¤¯ बचाया, उनà¥à¤¹à....
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....‡à¤‚ हमेशा-हमेशा के लिठबरà¥à¤¬à¤¾à¤¦ होने से रोका।†2. 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. 3. To promote aw....
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....areness and understanding of the IBC among various stakeholders across the country, the IBBI has launched this online Quiz in collaboration with MyGov.in 4. The Quiz is open from 1st July, 2020 to 31st July, 2020. 5. Terms and Conditions: (a) The Quiz shall be open on the MyGov portal https://quiz.mygov.in for a period of one month from 1st July, 2020 to 31st July, 2020. (b) 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 and also 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 th....
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....at he/she abides by these terms and conditions. (c) One needs to register on the MyGov portal before taking the Quiz. For registration, you need to submit valid mobile number and a valid 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. (d) The Quiz is available both in English and Hindi. You may choose either of the languages. (e) The Quiz will have 20 (twenty) questions, each carrying one mark. One will get 10 (ten) minutes to complete the Quiz. (f) Any kind of malpractice, such as, impersonation, double participation, etc., will render the participation of the individual null and void. (g) Performance in the Quiz will be evaluat....
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....ed 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. (h) 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 ....
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....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. (i) Besides the above, top 10% of the participants in terms of performance shall be issued a "Certificate of Merit". (j) 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. (k) In case of any dispute, the decision of the IBBI shall be final. (1) By participating in the Quiz, the participant agrees to have read and accepted the above- me....
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....ntioned terms and conditions. Sample Quiz: (The Quiz consists of 20 questions, based on the Insolvency and Bankruptcy Code, 2016. Each question has four alternatives. Choose the alternative that is the most appropriate response.) 1. Which of the following is not an objective of the Insolvency and Bankruptcy Code, 2016? (b) ten thousand (c) one million (d) ten million (a) Promoting availability of credit (c) (b) Promoting entrepreneurship (d) Recovery of loans by creditors Ans. (d) ten million Insolvency resolution of corporate persons 7. Who regulates Insolvency Professionals? Ans. (d) Recovery of loans by creditors 2. Which of the following is not a process associated with insolvency of individuals? (c) 3999 (a) ....
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.... Ministry of Corporate Affairs (b) National Company Law Tribunal (d) 3999 (a) Fresh Start Process (b) Insolvency Resolution Process (c) Bankruptcy Process 8. (d) Fast Track Resolution Process Insolvency and Bankruptcy Board of India Indian Institute of Corporate Affairs Ans. (c) Insolvency and Bankruptcy Board of India Who appoints an insolvency professional to act as the Interim Resolution Professional for a corporate insolvency resolution process? Ans. (d) Fast Track Resolution Process (a) the committee of creditors 3. The Insolvency and Bankruptcy Code, 2016 has adopted model for corporate (b) the corporate debtor (c) the National Company Law Tribunal insolvency resolution. (a) (b) debtor-in-control 3900 ....
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.... (c) (d) creditor-in-control NCLT-in-possession Ans. (c) creditor-in-control debtor-in-possession (d) the Insolvency and Bankruptcy Board of India Ans. (c) National Company Law Tribunal 9. The powers of the Board of Directors of a company undergoing corporate insolvency resolution process is exercised by. the Central Government (a) 4. If you book a flat with a real estate company, and that company enters the corporate insolvency resolution process, you would be considered as (b) (c) the Insolvency and Bankruptcy Board of India the Interim Resolution Professional (d) the Registrar of Companies an operational creditor (b) 3999 a secured creditor (c) a preferential creditor (d) a financial creditor Ans. (d) a fi....
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....nancial creditor 5. When can a bank file an application for initiation of corporate insolvency resolution process against a corporate debtor? on determination of default by the Adjudicating Authority Ans. (c) the Interim Resolution Professional 10. The committee of creditors constituted in a corporate insolvency resolution process comprises (a) financial creditors 3999 (b) (c) financial creditors and operational creditors financial creditors and equity shareholders (d) financial creditors and preferential shareholders Ans. (a) financial creditors Which of the following persons is prohibited to submit a resolution plan in a corporate insolvency resolution process? 11. (b) (c) on commission of default by the corporat....
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....e debtor on net-worth of the corporate debtor becoming negative (d) on classification of the account of the corporate debtor as a Non-Performing Asset (a) A promoter of the corporate debtor (b) A wilful defaulter (c) A creditor of the corporate debtor Ans. (b) on commission of default by the corporate debtor (d) A competitor of the corporate debtor 6. A creditor can initiate an insolvency proceeding when the debtor company has defaulted at least Rupees. 12. Ans. (b) A wilful defaulter Who among the following has the highest priority in distribution of sale proceeds of liquidation estate in a liquidation process? (a) one thousand (a) Workmen (b) Employees 3900 (c) Tata Steel Ltd. (d) Arcelor Mittal India Pvt....
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..... Ltd. Ans. (d) Arcelor Mittal India Pvt. Ltd. in the Insolvency and Bankruptcy Code, 2016 are yet to come into force. (c) Government (d) Tax dues Ans. (a) Workmen 17. The provisions relating to 13. If a company wishes to exit a business and can pay-off all its debts in full from the sale proceeds of its assets, it may initiate_ compulsory liquidation process (b) (c) voluntary liquidation process corporate liquidation process (d) fast track liquidation process Ans. (b) voluntary liquidation process 14. 3908 (b) (c) Which is the first company to be resolved through corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016? Innoventive Industries Ltd. Nico Corporation Ltd. Synergi....
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....es Dooray Automotives Ltd. (d) Bhusan Steel Ltd. Ans. (c) Synergies Dooray Automotives Ltd. 15. (b) 3903 Which of the following is the first financial services provider to undergo corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016? IL & FS Punjab & Maharashtra Co-operative Bank Ltd. (c) DHFL (d) SRS Microfinance Ans. (c) DHFL 16. Essar Steel India Limited, one of the 12 large accounts referred to by the RBI for resolution under the Insolvency and Bankruptcy Code 2016, was successfully resolved and taken over by (a) Reliance Industries Ltd. 39 (b) Vedanta Ltd. (b) (c) (d) Resolution of Personal Guarantors to Corporate Debtors Resolution of Corporate Guarantors to Corporate De....
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....btors Fresh Start Process Voluntary Liquidation Process Ans. (c) Fresh Start Process 18. 3300 What a resolution professional is to a corporate insolvency resolution process, so is to a bankruptcy process. a liquidator (b) insolvency professional (c) registered valuer (d) bankruptcy trustee Ans. (d) bankruptcy trustee 19. 2330 (b) (c) (d) Which of the following is an Information Utility? National e-Governance Services Limited NSDL e-Governance Infrastructure Limited TransUnion CIBIL Central Registry of Securitisation Asset Reconstruction and Security Interest Ans. (a) National e-Governance Services Limited 20. Appeal against an order of the National Company Law Appellate Tribunal may be preferred before the ....
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....High Court having Territorial Jurisdiction (b) Commercial Bench of the High Court (c) Supreme Court of India (d) Court of Appeals Ans. (c) Supreme Court of India Note: The IBBI reserves the rights to cancel or amend all or any part of the Quiz and/or the Terms and Conditions. However, any changes to the Terms and Conditions or cancellation of the Quiz, will be updated/ posted on the Mygov platform / website of IBBI. For further information/clarification, please write to [email protected] Insolvency and Bankruptcy Board of India (IBBI) 7th Floor, Mayur Bhawan, Shankar Market, Connaught Circus, New Delhi-110001 www.ibbi.gov.in<BR> News - Press release - PIB....