The official cutoff for IIFT has not been released yet by NTA. But according to various experts, the cutoff is said to be somewhere between 120 to 130 for the general category students. For SC category, the cutoff is around 8 to 10 marks less. So with your marks of 122, I believe you can get a call from IIFT. You need to ace the next rounds, i.e. the Written Ability Test and the GD & PI and you can secure a seat in this coveted institution.