Hi Summit6683, As an Indian male engineer, unfortunately you are coming from the very toughest demographic when it comes to b-school applicants. It's also one that tends to have very high GMAT scores so while a 730 would typically be considered a strong score among Indian male engineers it's just average or even a bit on the low side (scores among people who get into top 20 schools is typically 740+). Your age will make it hard to get into full time programs, since the average years of work experience they are looking for is typically in the 3-5 range. When you have significantly more than that it presents a challenge in your candidacy. Another important factor is your career goals, since your basis for why you need the MBA rests on those.
You could consider European schools like Oxford, where the average age tends to be a bit higher - although you will still be on the high end there as well. LBS & INSEAD will be firmly in the stretch category for you but you could consider schools like Rotterdam in the Netherlands or Manchester, where you'd have a better chance of getting in. If you want to target US schools, I'd aim for schools in the 30-40 range (we typically use US New & World Report rankings)
Your goals are also an important factor in your overall candidacy as well as in school selection. The most common post-MBA goals among your demographic are product manager in a tech firm & consulting, so if you have goals that are NOT those that's all the better in terms of differentiating yourself. Something in the oil & gas industry could be an option for example since that's your background & it's a slightly less common goal.