IIM

Hello Sasank, doing an MBA from IIM or a reputed university abroad is almost equivalent. Amongst all b schools in India only IIM features in the world rankings. However it is good to note that doing an MBA abroad is crucial for developing and identifying oneself and own interests in the real sense. The international exposure and the global network you will develop will be priceless.
Anu

The cut off will obviously vary from year to year. As far as placements are concerned, the prudent option would be to visit the institute and talk to the present senior batch. This will give you a realistic picture

it is difficult to get admission in old and respected IIMs with 95 percentile. You may get call in new IIMs if your acedmic performance is good.

All depends on ur cmat or Cat score. colleges other than IIMs are FMs delhi, IIFT delhi, Ksomaiya Mumbai, sydenham, spjain,nmims, welingkars, Greatlakes, MICa, shaileshmehta, MDI gurgaon, IMI Delhi, IMT ghaziabad.

The right or pragmatic approach, is to personally visit the B School you are targeting and gather information

No, it won't be. However, being a non-engineer can be a benefit, as IIMs have started giving more points to non-engineers in their grading formulas.

Chances are really tough. In case you are from general category, then almost no chances. If you are from a reservation category, then still some. Chances, if you get a really good percentile

no, for IIMs you need to give CAT

The results will be announced by the end of april or start of may.