3rd National Online Quiz on the Insolvency and Bankruptcy Code, 2016 | By Insolvency and Bankruptcy Board of India | Prize Money worth Rs 2.75 Lacs | Register Now!

The Insolvency and Bankruptcy Code, 2016 (IBC) provides a market mechanism for reorganization 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 recent years.


  • Indian citizens aged 18 years and above as on April 16, 2022

Ineligibility: Individuals working in IBBI and BSE Investors Protection Fund (permanent and contractual), service providers under the IBC and registered with IBBI, and also their immediate family members are not eligible to participate in the IBC 2016 online quiz.

Note: A participant must self-certify that he/she is eligible to take the Quiz and that he/she abides by these terms and conditions.

Further Details

  • The quiz will have 20 MCQs, and each participant will get 10 (ten) minutes to complete the Quiz.
  • There will be no negative marking. These questions will be randomly picked from the question bank.
  • Winners will be adjudged based on the maximum number of correct answers.
  • In case of multiple participants have given the same number of correct answers, the participants who take the least time to complete the quiz will be adjudged the winner.
  • Participants can skip a tough question and come back to it later.


  • Best Performer: A Gold Medal + Cash Prize of Rs. 1,00,000/-
  • 2nd-Best Performer: A Silver Medal + Cash prize of Rs. 50,000/-
  • 3rd-Best Performer: A Bronze Medal + Cash prize of Rs 25,000/-
  • Ten (10) Best Performers: Consolation prizes of Rs. 10,000/- each.
  • Top 10% performers shall be awarded “Certificate of Merit”

Participation link


All efforts are made to ensure the accuracy and correctness of the information published at Legally Flawless. However, Legally Flawless shall not be responsible for any errors caused due to oversight or otherwise. The users are advised to check the information themselves.

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