Came across the NGC Moments Awards and while going through the Terms and Conditions also came across Pt 9 which states,

“The pictures, clippings and films uploaded/posted on the Website shall be so done under an irrevocable, royalty free license and an applicant hereby accordingly grants NGC the right to use the picture/clipping in any medium anywhere in the world in perpetuity.”

and pt 11.,
NGC will have the right to use the pictures without the credits of the author/producer/owner of the image or the movie clipping

http://www.natgeotv.co.in/MomentAwards/TermsandConditions.aspx

In the interest of unsuspecting photographers, I am of the opinion that this unethical to hoodwink an amateur or an enthusiast who is not aware of terms like ‘royalty free’, ‘any medium’ or ‘perpetuity’ or its implications for an incentive like a free gift apart from the right to use of imagery without credits.

it might also have commercial and copyright implications on the rights of the photographer

Also, I find it an unethical that an agency of the repute of National Geographic is involved in.

i suggest we as a photographic community should not endorse the same by non participation as well as by spreading the word of caution.