What do you mean by good school? Take a look at the GMAT Tiers post, linked from my profile page.

Thank you Duncan.
Also, can you please suggest me whether its possible to get admission in MBA with GMAT but with lower GPA (like I mentioned above) or is it a futile attempt on my part??

Yes, depending on the school.

Steady career growth over eight years, combined with a good GMAT score, can often help balance a not-so-good undergraduate GPA.

The further you are out from your undergrad, and assuming you have good work experience, the less important your GPA will be. And a solid GMAT score (hopefully above the average of the school you're looking at) will signal to the adcomms that you're capable of high level academic work.

However, the GPA will still be a cause for concern. A good strategy is to try to explain it in whatever way you can: if you have the option of writing an extra essay, use this essay to tell them why you did poorly in your undergrad. If you have a good story and can connect the dots between your undergraduate performance and why you're ready, now, to do an MBA, this can go a long way.

Thank you so much Maury.
Your reply is a hope of ray for me. Am sure I can justify my low GPA.