Report on Valedictory Session of 3rd Round of Company Formation Program

Punjab Tribune Bureau | April 06, 2019 12:23 PM

Kheri Gurna: ‘CELEBRINO…vision beyond imagination’– the third company of the students for the session 2018-19 was established by the Commerce and Management students of GGDSD College, Kheri Gurna under the supervision of Dr. S.K. Baria (Principal) of the college.

The Company owned by 87 shareholders dealt in gents and ladies dress material. At the top of the organizational structure was CEO – Gursimar Singh Saini, a B.Com (Hons.) – Final year student of the college. The company worked through six departments i.e. Finance, Purchase, Marketing, R&D, HR and Legal. There were nine Board of Directors who managed the affairs of the company. The company started with the initial share capital of Rs. 13,050 collected by issuing shares of Rs. 150 each to the 87 students and faculty members of the college.

The motive of the program was to make students understand the real life corporate working, concept of earning money, enhance team spirit and develop leadership style etc. After completing the legal formalities in its creation, the company commenced its operations. It carried out the purchase and sale of dress material till 30th March, 2019 and then the shareholders decided to wind-up the company.

The winding-up proceedings were finally completed on 4th April, 2019 when the valedictory session of second round of company formation program was held. On this event, Gursimar Singh Saini, CEO of the company confirmed that the total revenue of the company till conclusion of operations was Rs. 32,862 and total expenses till winding up was Rs. 25,025. The net profit of company was Rs. 7,837. Out of Net Profit, the students voluntarily contributed Rs. 442 towards the betterment of the Company Formation Program. Each shareholder received Rs. 235 i.e. 156.67% of the original value of the share.

This company thus finally successfully concluded its operations. On successful completion of the program, Dr. S.K. Baria (Principal) congratulated Dr. (CS) Jyoti Arora Co-ordinator of the program and the students. He then awarded the certificates to the participants. On the basis of constant hard work and efficiency in work, five students were declared as the best employees of this second company. These students are – Gursimer Singh Saini (CEO), Varun Sood (Chartered Accountant), Raveena Rani (Vice President - Finance), Karan Jindal (Vice President - Purchase) and Muskan Goel (Vice President – HR). At the end, Dr. Baria motivated the students to participate in the next round of the company formation program with same fervor and enthusiasm. Maj. Gen. A.K. Shori also congratulated the students for being the part of this program. The session concluded with singing of the National Anthem.




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