Insolvency and Bankruptcy Board of India (IBBI) organises “2nd National Online Quiz on Insolvency and Bankruptcy Code, 2016” in association with MyGov and BSE IPF
Mumbai, August 2, 2021: Insolvency and Bankruptcy Board of India (IBBI) in furtherance of its mandate to promote awareness about the provisions of the Insolvency and Bankruptcy Code, 2016 (Code) is organising 2nd National Online Quiz on Insolvency and Bankruptcy Code, in association with MyGov and BSE IPF.
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 stakeholders. It is one of the deepest economic reforms witnessed in India in the recent years.
The Quiz will be active for online participation at quiz.mygov.in from 1st August, 2021 to 31st August, 2021. It is expected that this National Quiz will further enhance awareness about the benefits of the Code, amongst the market participants, practitioners and all other stakeholders. There are attractive cash prizes and medals for the 3 top performers and also cash prizes for the next ten performers, sponsored by the BSE Investors Protection Fund, as part of their investor awareness initiatives. Further, the top 10% performers shall be awarded Certificate of Merit by IBBI.
The first Edition of the National Online Quiz was conducted successfully last year from 1st July to 31st July, 2020. Last year, the quiz received overwhelming response with over 1.25 lakh participants, representing every State and Union Territory of the country.
The brochure for the 2nd National Online Quiz, containing terms & conditions and awards & commendations being offered etc. is available on www.ibbi.gov.in and a copy is also attached for ready reference.
The Insolvency and Bankruptcy Board of India was established on 1st October, 2016 under the Insolvency and Bankruptcy Code, 2016 (Code). It is a key pillar of the ecosystem responsible for implementation of the Code that consolidates and amends the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximization of the value of assets of such persons, to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders.
IBBI is a unique regulator: It regulates the profession as well as processes. It has regulatory oversight over the Insolvency Professionals, Insolvency Professional Agencies, Insolvency Professional Entities and Information Utilities. It writes and enforces rules for processes, namely, corporate insolvency resolution, corporate liquidation, individual insolvency resolution and individual bankruptcy under the Code. It has also been designated as the ‘Authority’ under the Companies (Registered Valuers and Valuation Rules), 2017 for regulation and development of the profession of valuers in the country.
BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & now the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualized entity, with a broad shareholder base. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, commodity derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.
BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. BSE also has a dedicated MF distribution platform BSE StAR MF which is India Largest Mutual Funds Distribution Infrastructure. On October 1, 2018, BSE launched commodity derivatives trading in Gold, Silver, Copper, Oman Crude Oil Guar Gum, Guar Seeds & Turmeric.
BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE’s systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments.
Indian Clearing Corporation Limited, a wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on the BSE trading platform and provides full novation, guaranteeing the settlement of all bonafide trades executed. BSE Institute Ltd, another fully owned subsidiary of BSE runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), associate company of BSE, is one of the two Depositories in India. BSE has set up an Investor Protection Fund (IPF) on July 10, 1986 to meet the claims of investors against defaulter Members, in accordance with the Guidelines issued by the Ministry of Finance, Government of India. BSE Investor Protection Fund is responsible for creating Capital markets related awareness among the investor community in India.
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