Hi Shrenik,
I think you might lose points for not implementing the menu and shortcut keys. A lot of people don't get full credit for their GUIs and there is some feeling that this sort of thing may be behind it. Try to do a search on 'Gui' and see what you find. I have also heard that using a null layout can cause point loss, too. I did this but have not gotten my score yet, so I can't confirm it
My menu only has File with Exit under it and Help with an 'About' popup under it. I had to go back and add mnemonics to parts of my GUI before submitting because I had been a bit inconsistent about it. Again, once you get one setup, it shouldn't take too long, it's only a couple lines of code.