CMAT

Yes Davesh, you have a chance of getting a call

Definitely you are eligible. It is to be noted that only 30% weightage is given to the entrance scores and the rest depends upon how you perform in your GD/PI. To prepare for your GD/PI, be well versed with the present political and business environment of India. All the best.

Last year cut-off for CMAT was 75 percentile .IMI Bhubaneswar uses CAT/XAT scores along with sectional scores and other academic parameters like marks in 10th, 12th and graduation for the purpose of shortlisting. The selection criteria are independent of CAT/XAT scores. It varies across the years just as the short-listing criteria and depends on the overall profile of the applicants each year.

You should apply for two discipline. One you may keep HRM and other (Marketing / Finance).This time the cut off for HRM could be High.
And your friend can go with only one discipline registration of his choice.

Your CMAT score is very good and you also have a good academic record. You will be shortlisted for sure. But during the interview you will have to justify your graduation marks.

XAT and CMAT Cut-off would be around 70 percentile for general and 40-60 percentile for reserved category. Average package is 8 for HR.

Its really a good score. If my assumption is correct its around 92-95%. You got a strong chance to get a call from most of the top tier colleges participated in CMAT. Some of the colleges you should consider are:
1)K J Somaiya Mumbai
2)GIM, Goa
3)We School Mumbai
4)Great lakes, Chennai
5)SDMIMD Mysore
6)IMT Nagpur
7)IMI Bhubaneshwar
8)XIME Bangalore

Yes you can apply either by XAT or CMAT. Your marks also proves you have a good acedemic record.Please register with the process ASAP. You have a good chance.

You may definitely get a call for GD/PI. But final conversion totaly depends upon your performance in the process.All The Best.