Great Lakes takes through various management exams namely GMAT/CAT*/XAT +/CMAT. Yes the past academics are considered for admission but there are other factors too like essays , work experience and performance in the interview. 

Based on your past academics there does not seem to be much problem but make sure you score a good percentile and clear the interviews impressively to stand a chance.

Their evaluation process includes factors like:

• Academic Abilities,
• Test Scores,
• Leadership and Interpersonal Skills,
• Integrity and Ethical Values,
• Diversity of Background

All the best!