Hi Puys,
Here goes my story about doing MBA in India( well, before starting to study only 
)
My Background:
Academics:
Std. Xth - 72 % ( Maharashtra Board )
Std. XIIth - 61 % ( NCERT syllabus - Goa Board)
B.E. Engg(C.S.E) - 65 % (VTU,Karnataka)
Working Experience:
Accenture Private Services Ltd. - 10 Months till date.
Other Activities:
Chess Player-- have been representing my instituition or company for chess from the past 8 years. But, havent won any STATE- level competitions.
Event Management-- Have regurlarly participated/ organized events like University level Athletic meets, Technical fests, meet ups, etc
quiz,puzzles,Apti -- Relatively comfortable with Apti,puzzles, quiz, GD's etc.( but not upto MBA level ). Had no problem of these skills when i had attended placements after college.
MBA Inspiration & Decision:
I had no MBA dreams as such in my final year of engg.I just wanted to be a Software Engineer and get placed in a good company in campus.
And I managed to do it and got into Accenture.
Initially, I was content with what I was doing.Exicited about the corporate world, IT world, salary
, Parties, etc etc 
But, then my project changed and the bad times started to erupt.
everything changed. Being a Java developer, I had to work on shell scripts n other stuff and uptill now i have lost touch with Java, even though, my Primary skill is Java.And more other such issues/greviances which I do not want to discuss here.
With no offence to Accenture, it is the same condition in most of the Service based companies in India.( My frends from other companies are also in the same situation)
So, wat next ? was the question buzzing around me for a while.
My ambition was to become a Software Engg. I have done that and have to move on.
I saw the profiles of Top level Management in my company and as expected, found all of them having an IIM or IIT or other university double degrees abroad.
So,If i was to continue here only, I would be at the TL(Team Leader) position here after 5-6 years from now, doing the same unchallenging work.I cannot switch to other companies(read Product companies here) due to my poor technical experience.
This is when a friend and colleague inspired me about MBA-benefits,process, etc etc. I was nevr interested in MS or M.Tech.So, naturally, choosing to do MBA was not difficult.
I researched for over 3 months on prospects of MBA in India.Saw many people with BE+2-3 work exp in IT company+MBA now doing well.the profiles looked inspiring.then, the pay packages, the Job profiles/Roles , the wide scopes for me, began to appear, if I were to do MBA.
By then, I had decided that I would be doing MBA and targeted three academic years ( 2012-14, 2013-15,2014-16) to get through in 2 year full MBA course in any of the top B-Schools.
Preparation till now:
List of top B-colleges in india, Entrance exams,placements,notifications, etc etc
Started solving Quant,DI,DS,LR,Verbal problems & also preparing for GD-PI
Getting into IMS for July batch.
Regularly following PG for updates and info.
And now comes the Worry:
Worry:
Looking at my academic performances, I know it is a crime to even dream of an IIM or XLRI seat.
After checking the Selection Criteria's of IIM's I'm still more demotivated. And also for the fact that people with 99.7 + percentile also are unsure of a seat in IIM, makes me feel a bit depressed..
And top colleges which do not consider academic background at the time of calls,given I do well in Entrance exams, I would still face the same issue in PI's(obvious that they would be questioning me on academic stuff)
So, is it worth spending thousands and practising hard for CAT, as no matter what, I would never get into IIM's or any other top notch college?
OR
Is it worth to sacrifice two years of salary+Exp+Education Loan for MBA to study in a Tier-3 or Tier-4 college.
Query:
As you all Puys see, I'm in a fix about whether to continuing preparing or leave it right away and concentrate on my IT career.
Some of you might be thinking that, " I may be counting my chickens before they hatch", but that is what I can predict about myself.
Need your views on this Puys.I assure you that I'll strive hard for preparing and despite poor academic background,I believe that I have a changed attitude(or because of the Work Frustration) to reach my goal.
.