From FMS website
For the academic year 2012, Admission to M.B.A. (Full-Time) and Ph.D. Programmes will be based on personal interview, group discussion and CAT-2011 score (Common Admission Test conducted by Indian Institutes of Management during October 22, 2011 to November 18, 2011). Applicants may visit www.catiim.infor appearing in the Common Admission Test (CAT) 2011. Applicants who have not taken CAT-2011 will not be considered for admission. At least 50 percentile score in each section of the CAT-2011 is required by a candidate to qualify for being short-listed in GD/or Interview.
Expected cut off for FMS general category is 350
As the paper was easy still basic 240+ for OBC