Hello Ajinkya, 

The scholarship criteria at O.P Jindal for outstanding merit is ₹1 lakh per year which will be given to the top-five scorers in LSAT-India who enrol in three-year LLB Programme, five-year BA/BBA LLB programme and one year LLM programme. This criterion will be based solely on your merit. 

Now, even though your percentile is excellent, there are only five seats for the scholarship and it is possible that there is a lot of competition for this as well. I would suggest you to not wait too much before going forward with your admission procedure. Although, if you're still in a doubt, you can contact the designated authorities and they can guide you.