'The company hires staff from other classes on daily wages and pays them according to work done. One kg of capsicum cutting fetches Rs.2 per student,' said Vineet Dhadly, its vice president, personnel.

The company has its full hierarchy of top management, including the president, vice presidents for finance, personnel, production, sales, marketing and inventory, managers and even a company secretary.

'We prepare performance reports every week. All entries of purchases, stocks used and sales are made as in any big company. All records are computerised,' said Kunwarbir Singh, the company's vice president, finance.

'The company means a lot of hard work and effort. Food products account for most of our revenue (worth about Rs.230,000). We get complaints sometimes and look into them immediately. Company members who report late are penalised. Our parents have been very supportive with this concept even though we have to come very early and go back late from school,' vice presidents Muskan Bajaj, Chandrika Ahuja, Priya Arora, Harsimar Kaur and Abir Saraon and company secretary Arushi Ahluwalia pointed out.

Principal Duggal said the concept was started in 1995-96 from a similar J.A. programme in the United States.

'J.A.-India was launched last year only and one school (in Mumbai) and a college are part of it. Vivek High has been doing it for over 13 years. The companies have evolved over the years,' Mushtaq Ahmed, commerce department faculty member and teacher-in-charge of the J.A. company, said.

Duggal said: 'The school has a licence from the J.A.-India to run the company. Our children have made presentations to KPMG and HSBC. The experience that these children have gained will be counted by the corporate sector when they enter the corporate world.'

With 'InsPirated' being liquidated after a successful run in a slowdown year, stakes will be high for the new company to be floated this year by school students. 'We will bully them to show results,' the outgoing team laughs off.

(Jaideep Sarin can be contacted at jaideep.s@ians.in)