Hi... I am taking GMAT on the 27th of Jan 2012... Can u submit my application with my GMAT I'd and submit scores in the 27th and qualify?

As a special case, we can provide you time till 27th Jan. But you need to send a special request to admissions2012@tapmi.edu.in with regard to this. Since you are taking test on 27th Jan., you may not able to submit your official score sheet. Wish you all the best, Admissions Office.