It is unlikely but not impossible. One can get into any IIM, but it is becoming increasingly difficult to break in with lower UG academic scores. When the norms for Admission are established, looking for an unfavorable outcome will not help you in your efforts.
At the same time, there are other IIMs and any other 'A Grade Institution' would suffice. After ten years of work experience, everyone is equal in the corporate world. Your work and accomplishments on the job will be known and recognized. So, get started, get into a good management school, do well, join a company, and slog for the next 8-10 years. You would have caught up with a lot of people.
Even if you are fortunate enough to be admitted to an IIM Ahmedabad, Bangalore, or Calcutta with a 60% performance, life on campus will be excruciatingly difficult. Survival would be a much bigger challenge in that fiercely competitive environment.