I don't think there will be a cap on the number of teams, but I will ask them, just in case. I've also asked them to get back to us on the exact quizzes, number of people per team etc.
If there is a cap on the number of teams, we will have to look at some way to pick the 'best(?)' team(s) from insti from each category. I'm hoping they won't have any such rule. The coordinator from their Quiz Club claims that they'd be deciding the exact details this weekend (regarding Nihilanth).
Mood I has 4 quizzes (according to their website). Gen, Sports, Ent and an IIT Bombay Special Quiz, whatever that means. Being the cuppers that they are, they do not have the guts to set their own quizzes - the first three quizzes have external quizmasters. The QC guy told me that they may have a Travel Quiz also. All Mood I quizzes have 2 members per team, and there is no restriction on cross-college teams.
Nihilanth, of course, will have external quizmasters setting the quizzes, to avoid any allegations of unfairness. The quizzes tentatively planned for Nihilanth are Lone Wolf, SpEnt, SciTech, India and Biz. However, this has not been confirmed. Also, there cannot be any cross-college teams in Nihilanth.
I'll post on this thread whenever I get updates.