Hey, IIM grad and a fellow PM, also part of placecomm hence my 2 cents here
Well taking a gap should be normalized, career breaks are much needed in our current hustle and bustle. IIM placements are very different, shortlisting is done basis few params and resume only helps in selection process.
Key param for getting shortlisted for interviews:
Acads grades
Ug univ
Prev experience (no of months matter with 20+ months you can sit for 90% of companies)
Industry of work
PoR in ug
So If MBA is ur proffered route I would suggest joining any company and continue building ur profile.