The answer is based on my cousin's experience who had an average GPA but a great CAT score. IIM Calcutta’s strategy of ignoring GPA in lieu of CAT scores has been essentially effective because:
IIMC focuses more on your ability and willingness to learn and apply. Your GPA is just a small factor.
People who achieve high CAT scores are not just lucky. It’s a result of analytical skills, hard work, determination, and an overall sense of excellence. All these skills are valuable to the institution.
The institute prefers investing in experiences rather than mere grades.
IIM Calcutta, therefore, welcomes mediocre talents and transforms them into their best self. The lack of pressure to achieve high grades makes the overall experience a bit more relaxing. Basically, results are more important than the intensity of efforts. People here develop soft skills like people management, leadership, and emotional intelligence.
We can safely say that the job prospects and academic performance have no connection with your past academic facilities. If anything IIM Calcutta offers you a second chance in life.