AFAIK,
AMCs (Annual Maintainance Contracts) are jus
Annual Money Contracts

given by the companies to extract money from users jus for a Virus scan, checking of wires and other connections wich is jus so stupid. DO NOT go for AMCs as each component comes with its own warranty and service centers across India and in every city.
I took an AMC long back (7 yrs back) wen the PC was a totally new thing for me, but all that the Technician (most of them are not technician but jus stupid guys trained to do sum regular PC work wich everyone knows

) did was to come to my place, open the cabinet, clean the dust and check the wires/connection and go away. SO please please DO NOT go in for an AMC (according to my opinion).
ANother thing to be noticed is that: BEFORE u take an AMC, the technician will cum to ur place, and jus misplace the jumper of the Optical drives and after sum time wen ur unable to use ur Optical drive (CD ROM, DVD ROM etc.) then he will say... "Ooh Sir, looks like ur Drive has gone BAD and its better to take an AMC as that will be cheaper for u and it will be in good hands of our EXPERTS"....
SO its all B*** $**t and never take an AMC, These guys dnt knw any thing of the PC.
Once my intel mobo (D 865 GBF) gone kaput and since it was in the warranty period, i looked up the Intel numbers and called them up. they asked me to tell me JUST the serial number that was printed on the mobo, and walla i was given a replacement (directly from the INTEL office) in jus 1 week witha brand new IDE ports and other ports wich had gone bad they replaced everything MINUTTE thing on it.
Conclusion: DO not go in for an AMC as they are NOT Annual Maintainance Contracts but only
Annual Money Contracts.
Charan bro, I think this will giv u sum help as to decide if u wanna take an AMC or not...
Cheers n e-peace.....