CAT

The cut-off for IBS Mumbai is 70+. Yes they accept all these exams and there scores.

Yes, you can go for a drop year, but in MBA during internship and interviews reason for drop years will be asked.

IMO, TIME is better. Their study material (both online & classroom) is quite exhaustive. Also, I've heard their mocks are at par with the actual CAT. If possible, you can attend a demo lecture of both these classes to get a better idea.

Hi,
Try the given below link;
http://blog.oureducation.in/top-10-cat-coaching-centers-patna/
I hope it will help you.

Yes, you can appear next year for CAT. But during internship and placement, interview questions will be asked about your gap in education. So prepare a good answer for that. Investing one more year with proper planning for preparation will improve your score and will help you to get into top B-Schools.

The cutoff goes to around 85+ every year, with minute fluctuations.
LBSIM has no reservations on the basis of caste.-Samant S. P.
Official, LBSIM

It is possible to appear for CAT exam but you need some eligibility, you should clear your Bachelors degree with minimum 50% and the certificate should be from any university that is accredited by ministry of HRD, government of India.

No such information is out yet.

CAT is a national-level MBA/ PGDM entrance examination conducted by the IIMs. It is one of the toughest examination in India. Students who are able to crack CAT and get admission in legacy IIMs such as Ahmedabad, Calcutta, Bangalore, Lucknow and Indore have very high probability to get good high paying management job and have a bright career.