I started writing this as a reply to a comment, but it seemed to become long enough to merit a separate post.
The recruitment process (in India, at least) is that of elimination (no matter where you are) and not selection. Nobody minds losing a good candidate (despite all the claims to the contrary), but they would not want a “wrong” person in. And this “definition” of wrong could be anything, just anything. It could be too little of extracurriculars, it could be too much of them! A friend of mine did not get a job, which he very much wanted, because recruiters had to “make sure that they will be able to give him the kind of challenge his profile revealed he might want”!! I would not be surprised if one reason of elimination, they figure out, is discontinuance of extra-curriculars :)) But I am not losing sleep over it. And I have long back stopped taking advice of seniors. Its best to do what you “want” to do. You do not know what will work.
And you know what is the most uncomfortable scenario for me in such cases – when somebody asks me for an advice. Now, I can not advice people to do what I did in my IIML interview, or for that matter at my NTSE interview long back, can I? 🙂