The Biddulph Challenge Cup was presented by Sir Theophilus G. Biddulph, Bart, (see: http://en.wikipedia.org/wiki/Biddulph_Baronetshttp://en.wikipedia.org/wiki/Biddulph_Baronets ) to the CPRC, sometime between 1901-1905, as a reward for good shooting, as part of an inter-company competition.
Each CPRC company could enter one (or several) team(s) of 4. The teams fired in heats against each other at four iron targets, (ie., falling plates). The competitors had to double for 100 yards, jumping two obstacles on the way, before reaching the firing point. The winning team (of each heat) was the one that knocked all its targets over first, or knocked over more than the opposing team. Entrance fee was Rs10 for each team. If 5 teams of less entered the competition in any given year, all the entrance fees went to the winners; otherwise, 60% went to the winners, 30% to 2nd, and 10% to 3rd place teams.
As to what's happened to the Cup now? I suspect it was "lost" with the rest of the CPRC's silver plate in 1949 when they disbanded.Why not write a note to the current Baron Biddulph to ask if he knows anything more?
I suspect the winners did not keep the Cup, personally, but were awarded a regimental "shooting medal", which they could wear on their right breast (official medals from the Crown were worn on the left breast). I have an example in my collection.