Many thanks both of you for the reply
IIMA-PGPX has already mailed me back
said "very good profile.Go ahead"
regarding this
"
2. What constitutes proof of employment? I submitted tax returns and pay slips from previous years - this was considered sufficient at both ISB and PGPX"
I have been confirmed by Ex ISB-ian that ISB wont consider these as final proof
I need to get resignation accepted
so thats a hitch in the whole process for me
See,I cant predict about Govt policy/rule changes
They will certainly accept resignation one yr down the line
hence no harm writing GMAT
presently Govt is trying to contain the "attrition rate of Gr A officers"

which is High in railways/IRS(Even IAS)
anyway
I will be writing GMAT (by March) and 700+ will be my first target
also CFA L-2 in june 2008 is coming up
How good is GMP 2008,XLRI?
any idea?
regards
NM
____________________________
Two aspects to this -
1. Can you leave your job at all, or will it result in penalties - legal or otherwise?
2. What constitutes proof of employment? I submitted tax returns and pay slips from previous years - this was considered sufficient at both ISB and PGPX. If either of these are a constraint, then as someone else suggested, call/email and talk to IIMA/ISB/IIMC. The staff at IIMA and ISB (from experience) are very helpful and will provide quick answers if you ask specific questions.
If you have a time window of up to 5 years to do an MBA, then why not go ahead and give your GMAT right now? The score is valid for 5 years, so you will be able to apply using the same score in the future, once you have been able to resign (or get clarity about the situation). In a lot of ways, it helps to do your GMAT well before starting your application - removes a lot of the tension, and gives you a better idea about where you can apply. Also, if required, you have the luxury of writing it again to improve your score.
All the best.