5th National Online Quiz on Insolvency and Bankruptcy Code, 2016 from 01st August 2024 to 31st August 2024
Guidelines on National Online Quiz on IBC
The Insolvency and Bankruptcy Code, 2016 (IBC) provides a market mechanism for 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 th importance, the Hon’ble Prime Minister in his address at the centenary celebrations of Kirloskar Group on 6 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, insolvency professional agencies and information utility. 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 under the Companies (Registered Valuers and Valuation) Rules, 2017.
- 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
