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There is no cut off percentage as such. To be eligible to apply for BIMM, you need to appear in one of the entrance exams. But anything above 75%ile should be safe. It is to be noted that only 30% weightage is given to your entrance scores, Rest depends on how you perform in your GD PI. I'll suggest you to read a lot of general knowledge stuff relating to the present political and business environment of our country to prepare for your GD and PI.
Yes your 10th 12th and graduation scores are given some importance, but if you perform extra ordinarily in your GD PI, then that can compensate even if you have scored less in your academics. I hope this helps. All the best .

Hi Abhijit,
It's unfortunate that you have not cleared your 3rd year Bsc and have landed up a backlog which has delayed your graduation.
You need to contact the institute officials personally for specific admission details as it differs from one college to another. You may also consult your previous college, if they can re-consider your case. I would request you to contact your Head of Department regarding the procedure set forth by the college.
However, you may pursue your graduation via distance or correspondence mode of learning. There may be some difference in Correspondence and Regular course, i would say it varies from one subject to the other also from one degree to the other. However in general a course through distance learning does not have as much value as the regular one so if you can do a regular course, it would hold a lot of importance and thus be a much better option. The acceptability and recognition of a full time course is higher in industry and the long term career gains are good. Correspondence courses are ideally meant for those who are working and cannot leave their jobs to further their education. It is only to leverage ones experience and not so much as a stand alone degree. The employ-ability of a full time degree holder is the most and those with a distance education degree may face a drawback as far as employment options with MNCs are concerned. However, what is also relevant is your experience; skills and profile should match the profile needed for the job and organization. Thus it would be best for you to pursue a full time course.
Hope this information helps. Please feel free to revert. Click on the thumbs up or mark it as the best, if you found this useful.
Wish You Luck!