Does IMI Delhi placement reaches 12L for most of the batch? What's the reality?

Yes, the IMI Delhi placement does reach the 12 Lakh match for some parts of the batch. However, the details are subject to many factors. You can get an insight from the placement reports if you try reading behind the figures. The placement system works for placement data too. The top 10 percentile 

and then consequently the top 20 and so on. The average placement of any B School is usually determined by the top 40 percentile. A similar IMI Delhi average package of 17 LPA+ is driven mainly by the 40 percentile. 

The next lot of students come into the picture and kind of bring down the average package. This usually comprises 70 percentiles. The average is lowered to around 12 something. But I will suggest that as an MBA aspirant, you should focus more on being among the top 40 percentiles and not on the average package. This will be a driving force to overcome the struggles.