After this, I got free access to eGMAT's verbal scholaranium. So I took the opportunity and utilized it to the fullest and completed all questions within 3 weeks time. I now felt more confident in Verbal and my timing improved drastically [or eGAMT's clock is slower].
Either way, I decided to hold on to my MGMATs and focused on other free tests like the ones available on Babson, GMATPill etc.
Results:
25 March 2016 Babson Overall - 730 Q50, V41, IR -
26 March 2016 GMAT Pill Overall - 720 Q49, V40, IR4
Babson [or should I say, the Economist] did not give me one score. It gave a wide range - Overall 730 - 770, Quant 50 - 53, Verbal 41 - 45. So I have taken the lower one. [Is a score greater than 51 even possible ?]