Hello PSL,

If you apply to the first round and your seat gets confirmed and if you sit in the second round of councelling for better option then your seat will automatically gets cancelled and will be alloted to any other candidate and you will get the seat alloted in the second councelling and if you do not get any seat in second counncelling then your first councelling seat will get back to you 

In short you have your seat with you, and for more info you can contact the college authorities regarding this problem 

Hope you find a good solution for the problem