Come On
Go for IIT M. Tech.
If you do well in M. Tech., companies far superior than the one you're talking about, will pick you up from campus (without likely interview if you do stand in top 3).
You'll hardly have to worry about job security after M. Tech. and your starting profile will be far superior even in the first job.
(better than team lead in concerned company).
[ July 25, 2008: Message edited by: Sunit Gupta ]