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Hi Shashank,
To be eligible for admission in the 3-year LLB. course, the candidate should have:
1. Graduated in any discipline from a university established by an Act of Parliament or by a state legislature or an equivalent national institution recognised as a deemed to be university or foreign university recognised as equivalent to the status of an Indian university by an authority competent to declare equivalence.
Be or be less than thirty years in the case of general category of applicants and thirty-five years in the case of applicants from SC, ST and other backwards communities as on 1st June.
Have secured marks, which shall not be below 45% (44.5% and above shall be treated as 45%) of total marks in case of general category applicants and 40% of total marks in case of SC and ST applicants.

Hello Gulshan,After 12th, you need to pursue graduation in your area of interest (eg B.Sc, BMS, B.Com, etc.) and complete it successfully with at least 50% marks as it is a basic requirement for appearing for the MBA entrance exams later on. You may appear for these exams during the final year of your graduation or may take a gap and get some good work-experience. So the normal time frame after your 12th till the completion of MBA is 5-6 years (without work experience & gap) or 7-8 years (with work experience).
Coming to the second part of your question, the money to be invested depends upon which B-School you want to get admitted into and its location. A government-run B-School (e.g. JBIMS, Sydenham, FMS, etc.) would cost you overall around Rs. 5-6 lacs. Whereas, the same for a private institute (e.g. IIMs, NMIMS, SIBM, MDI, etc.) would cost you around Rs. 16-20 lacs. I hope it helps!