(The N in this name is pronounced like 'n' in ón'. The CH is pronounced like a 'ch' (light) in 'chop'.)
Paanchaalam or Paanchaalam was the land ruled by Drupada and his ancestors. This corresponds to present Punjab.
As is the custom in Samskritham, country names are given from the people that inhabitted it and the name is always in plural, though we use it in singular number in other languages.
The king of a country derives his name by the country he ruled. E.g. Paanchaala is the ruler of the country Panchaalam,
Chaidya is the ruler of the country Chedi, Maagadha was the ruler of the country Magadha etc.
Panchaalam was a friendly state to the Paandavas. Kaampilyam was its capital city. Its king Drupada was their father-in-law who fought and died for them with his brothers and sons in the war.
When Drona settled his score with Drupada by getting him captured by his disciple Arjuna, he levied - according some texts of the epic - a penality of half the kingdom . Thus the Northern part of Paanchaalam remained with Drupada and Drona got the southern one, with the city Ahichchathram as its capital.
One should not get confused this name with that of a small province in todays Tamilanaadu - Paanchaalan Kuruchi, the 'kingdom of the brave hero Veera Paandya Kattabrahman, who slept in the hearts of the Englsh rulers in the 18th century.
"After praying to Naaraayana, Nara, Sarasvathi and Vyaasa, then one should read the Jayam."
DEDICATED TO MY DEAR NIECE VYSHNAVI KRISHNA