Hey Saurabh! 

You just need a mindset, you can manage both. If you have a year time, devoting 3-4 hrs everyday makes a huge difference. You are not academically poor, it’s just you have hard time concentrating. Study with 2 hrs full concentration is twice effective than 10 hrs of sitting at one place without concentrated mind. So, work hard and ace it. Make a timetable and diligently follow. Rest you can chose to take a year back and prepare whole heartedly for CAT. But, still you won’t be able to get into IIMABC do you to your past academic records. It will be better if you take work experience and side by side prepare for CAT. So, work experience is also counted and increases your entry in IIMIL. Best wishes and ace it.