Could anybody help provide me with the simple hibernate application which is the replica of EJB.
Also this should be deployable to Borland Management Console 6.5

The Caveat Emptor sample application is the core reference for Hibernate. It does everything you could possibly want to do with Hibernate, and it is discussed at length in the reference book Java Persistence with Hibernate.

For some very simple examples that will show you how Hibernate works, and help you understand Hibernate quickly, check out my signature links.

http://jpa.ezhibernate.com/Javacode/learn.jsp?tutorial=01howtogetstartedwithhibernate

Your probably want to start thinking differently than "make Hibernate work like EJBs." Hibernate is different, Hibernate is an improvement, and Hibernate approaches persistent in a different manner from EJB2.x. Start thinking differently, and you'll have more Hibernate success!