Lateral entry

B.Tech lateral entry is specifically designed for students who pursue Diploma after class 10th. Regular B.Tech gives you more option to get into the top colleges across the country via exams like JEE, BITSAT, MHTCET, VITEEE, etc. Not all top colleges accept a lateral entry. Hence, will recommend you to opt for regular B.Tech
Top companies prefer all, I.e. top college, good grades and sound knowledge. Top companies don't visit mediocre colleges. Hence, you have to be the best in all the domains.

Laxminarayan Institute of Technology does not offer, B.Tech through lateral entry, for details around list of courses, check out the link below:
https://www.shiksha.com/college/laxminarayan-institute-of-technology-nagpur-24822/courses?ct[]=156

All you need to do is write the diploma CET entrance exam and with a good rank, you are eligible for lateral entry.

It would be around 50K.

No! Lateral entry is the admission process for diploma holder students for admission directly in the second year. You have to give an entrance exam.

I am not sure that JMI provides lateral entry for B.Tech courses or BE because there is nothing given about it on their website.

No, but if you are interested in IIT's then go for it.
Don't consider one year as waste it doesn't matter before your career.
If you get selected, you will have a bright future.

If you are enquiring about the entrance exam, it's based on your Diploma topics and concepts where they will examine your conceptual and applications skills.
So, be sure on the basics of technical concepts.
Otherwise, if you are enquiring about B.Tech syllabus, it is same as of general students who joined B.Tech after their 12th.