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Eligibility :
i.10+2 with 50% aggregates marks in Physics & Mathematics or Graduation with PCM or Diploma in Engineering.
Submission of Form:
Application for admission of AME course should be made in prescribed form which is available with the prospectus which can be obtained from admission office of Indian Institute of Aeronautics by paying Rs. 900/- or could be obtained by post by sending a D.D./M.O. of Rs. 990/- IN FAVOUR OF INDIAN INSTITUTE OF AERONAUTICS PAYABLE AT NEW DELHI. Students, who have obtained application form from institute's website, would submit the filled in application form to Indian Institute of Aeronautics, B-22, Main Rohtak Road, New Multan Nagar, New Delhi-110 056 along with a Demand Draft of Rs. 990/- paid IN FAVOUR OF INDIAN INSTITUTE OF AERONAUTICS PAYABLE AT NEW DELHI. A prospectus would be sent to the candidate on receipt of the requisite fees. NO APPLICATION WILL BE ACCEPTED WITHOUT REQUISITE FEES.
The duly filled in application forms could also be submitted at admission counter of any of the seven institutes of IIA Group. A registration number would be allotted to each applicant. Students who have already passed +2
for details on fees etc, check http://www.iiagroup.in/admissions

Hi Ankita,
It is difficult to mention the ways to prepare for the entrance as there is no particular format for the same, what matters the most is your hard work and the concentration going in preparing well and securing better results.
M.Des as the name suggest is a Masters degree in the Design field and hence the entrance conducted would majorly observe your Draw and Creative, and your Verbal Ability (English Language). There are many CEED related reference books and sample papers that can be helpful for you in term of preparing well, these are available in mostly all the bookstore which keep the competitive entrance material.
Please revert for any further queries!
All the Best!