Hi Nishant,
Since you've already earned a V40 on the Official GMAT, your overall Verbal abilities are clearly really strong - so the issues that you're describing are more about your 'efficiency' when dealing with Verbal questions than anything else. If you spent almost 45 minutes on the first 20 questions of this recent CAT, then you were almost certainly over-committing to most of those questions (and not just the RCs). On some of your past Exams (both the Official GMAT and your CATs), you were able to pick up enough points to compensate for having to rush through the 'fourth quarter' of the Verbal section - but if you get hung-up on a couple of early questions, then you end up wasting time and not getting the points AND then have to rush to finish (and miss most of those points as well).
Considering that you're so close to your next Official Test Date, it's not likely that you'll be able to make any big changes to how you 'see' (or respond to) the Verbal section. As such, attempting to make any significant changes at this point might lead to a short-term drop in your performance (since you aren't used to working in any other way besides the way that you currently use). That having been said, the two 'keys' to fixing this issue is to consistently take organized notes (since proper note-taking saves time AND can help to increase accuracy) and choose to not over-commit to the really hard questions.
In these last few days, you should limit your studies to general practice and light review (NO CATs and NO 'cramming') - you would be better served by getting some extra rest so that you can go into Test Day calm, clear-headed and ready to work.
GMAT assassins aren't born, they're made,
Rich