Okay, So I received a new mail which cleared all my doubts except for this one:
Do we have to register and pay for the exam before 15th and the amount will be refunded if we get the scholarship? Or will there be a separate registration provided for those who get it?
After the contest ends, we will inform the winners about winning the scholarship and there will be a separate registration process for them. Hope this helps 
visit this for details:-
Note: The scholarship does not hold, if the applicant have scored less than 300 points in the Long Challenge.
@vijju123, for certain reasons (timid ones) I removed my college name from my profile. If I score the topmost rank in my institution, will I be eligible for the scholarship?
@admin Please help me here!
I have paid fees for CCDSAP for upcoming 19th november exam. I also want avail this scholarship . Most probably I can get 1st rank in my institute in NOVEMBER challenge and I have more than 300 points. I need this scholarship most. Please help me. @vijju123
Please help!!!
Query regarding registration for codechef certification program:
@vijju123 What should I write in Highest Degree Earned?
Currently, I am a 4th year B.TECH. student.
Agreed about the dates. Since sem end exams would be starting in most colleges soon.
Pinged it to her. She will answer it tonight or sometime soon.
so we have to give the exam on 19th Nov itself?
If you are selected for the scholarship, Yes. It was explicitly stated that Students scoring the highest from a particular school/college/university in the November Long Challenge will win a 100% scholarship to take the CCDSAP November Certification Exam (Foundation, or Advanced, if they have the requisite rating).
Moreover, they have added 2 new cities i.e. ** Kanpur and Gandhinagar**.
We will inform you about the process after the contest ends. We will try and make sure that you do not have to pay anything upfront.
Admin what about semester exams if a student wins a scholarship and if his/her semester exams are nearby and he couldn’t prepare for certification course then will he/she be eligible to take exam on another exam date?
No, scholarship is only for exam in Nov.
Mostly no, you need to have college name under your profile. However, I can forward your situation to @admin and see what she has to say. But mostly even she will ask you to keep your college name, at least till you give exam.
You need to have college name under your profile.
See this- http://disq.us/p/1nqkt53 Admin has replied to my comment.