I have completed my MBA and planning to do M.Phil I wish to be a professor. Am I going in the right path?

It's good to read that you have clarity on your future goals. Since you are keen on moving into academics line, I would advice you to appear for the UGC NET exam and enroll as a research student in a university. This will not only get you stipend but also give you the desired teaching experience.

You have already completed MBA, then why would you like to do M.Phil, instead go with Ph.D and then go for M.Ed to be a professor.