Hey
varunvarma401You have a good profile but I'd have to say that you are almost a 'borderline' profile. By that I mean, if you can make a strong application- with impressive, well-thought essays, achievement-focussed resume and detailed letters of recommendation, you will stand a chance at your target schools. If you do a sub-optimal job on the applications, the work ex, and good scores won't be able to save you.
I like that you did your Masters from US/ Chicago. The 720 on GMAT is also decent. Most consulting firms will look at your GMAT and you have jussttt crossed the cut-off. But again getting placed with a consulting firm will be a lot of effort and networking.
If you are already living/working in Chi-town area then visiting mid-west schools must be done. In addition to your schools, Varun I'd recommend Ross Michigan, Duke Fuqua, Darden, and Tuck.
ISB should be relatively easy. At least getting the interview invite

But then you have to convince the adcom why you want to move back to India and related questions.
If you need help with your application, let's set up a time to talk.
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