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MBA is a generic degree and does not require for you to complete a BBA in most countries ( including Canada). I've done my Electrical Engineering and I'm going for my MBA this Fall 2017 ( Although I have 3+ years in Marketing and project management). MBA in Canada is much better than India, but...

Oh, okay. How much funds have you shown?

That does not make any sense. I had a similar experience with the documents. My documents were incomplete. The canada embassy contacted me and told me to submit the additional documents and specially mentioned that no extra fees is required. I submitted the documents and my visa was approved...

I am not sure but, I really don't think that is sufficient.

Yes, GIC and first semester fees is more than sufficient. Although you should show your ITR as well, if you have one.

Hey, I don't think you should worry at all. I'm also going to lakehead for my MBA. I've a similar profile. 10th 87% 12: 86% Btech - 7 CGPA. TOEFL 106. I received my visa on 5th July. Cheers!