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Hi,
Frankly speaking, this backlog does give a negative impact to your CV, as 3 years is a long time period. However, If you are able to perform outstandingly well in your Engineering and your Entrance Examination, the chances are that your performance will work as a cover up for your backlog.
I would add here that you need to prepare well for your GD/PI as well, especially your PI (Personal Interview), as in your PI the admission committee may raise questions regarding your backlog and may try to proof that you are a confused person and not fir for MBA , so, prepare yourself well on those lines.
Hope this resolves your query. Feel free to put up more queries In case your query is resolved please close this question by choosing it as a best answer or pressing the thumbs up icon.
Thanks,
Pooja

Debaditya.You must have 7 or 8 more months to prepare for your 12th exams. Concentrate on your studies, particularly where your are weak. Give your best efforts and aim for the highest marks. This is what you should be concentrating at the moment. Studying for a degree in Hindi might only give you a Hindi teacher job for which you will most certainly be facing some stiff competition from south Indians. Your BA Hindi vs their MA/MPhil/PhD in Hindi. It is pointless. The other alternative is BA English Literature. Your can aim for a career in Journalism. With fleuncy in Hindi and English, you can also aim for a career in advertising. Once again, I want you to concentrate on your 12th std first. Give me a thumbs up if my reply is morale boosting.