Hi  guhananth,
Check this example. Now please take its reference and correct your code.
Database
For this example I have used of Northwind database that you can download using the link given below.
Download Northwind Database
Controller
public class HomeController : Controller
{
    // GET: Home
    public ActionResult Index()
    {
        return View();
    }
    public JsonResult GetCustomers(int page, int rows, string searchString)
    {
        using (NorthwindEntities entities = new NorthwindEntities())
        {
            List<Customer> customers = entities.Customers.ToList();
            int pageIndex = Convert.ToInt32(page) - 1;
            int pageSize = rows;
            int totalRecords = customers.Count();
            customers = customers.Skip(pageIndex * pageSize).Take(pageSize).ToList();
            if (!string.IsNullOrEmpty(searchString))
            {
                customers = customers.Where(m => m.Country == searchString).ToList();
            }
            var jsonData = new
            {
                total = (int)Math.Ceiling((float)totalRecords / (float)rows),
                page,
                records = totalRecords,
                rows = customers
            };
            return Json(jsonData, JsonRequestBehavior.AllowGet);
        }
    }
    public JsonResult InsertCustomers(List<Customer> obj)
    {
        foreach (Customer customer in obj)
        {
            string id = customer.CustomerID;
            string name = customer.ContactName;
            string city = customer.City;
            string country = customer.Country;
            // Insert record in database.
        }
        return Json(obj.Count);
    }
}
View
@{
    Layout = null;
}
<!DOCTYPE html>
<html>
<head>
    <meta name="viewport" content="width=device-width" />
    <title>Index</title>
    <link href="~/Content/themes/base/jquery-ui.css" rel="stylesheet" />
    <link href="~/Content/jquery.jqGrid/ui.jqgrid.css" rel="stylesheet" />
    <script src="~/Scripts/jquery-1.9.1.min.js"></script>
    <script src="~/Scripts/jquery-ui-1.10.0.js"></script>
    <script src="~/Scripts/i18n/grid.locale-en.js"></script>
    <script src="~/Scripts/jquery.jqGrid.min.js"></script>
    <script type="text/javascript">
        $(function () {
            $("#tblCustomers").jqGrid({
                url: "/Home/GetCustomers",
                datatype: 'json',
                mtype: 'Get',
                colNames: ['CustomerID', 'ContactName', 'City', 'Country'],
                colModel: [
                    { name: "CustomerID", editable: true },
                    { name: "ContactName", editable: true },
                    { name: "City", editable: true },
                    { name: "Country", editable: true }
                ],
                height: '100%',
                rowNum: 10,
                pager: $('#pager'),
                rowList: [10, 20, 30, 40],
                viewrecords: true,
                caption: '',
                emptyrecords: 'No records found.',
                jsonReader:
                {
                    root: "rows",
                    page: "page",
                    total: "total",
                    records: "records",
                    repeatitems: false,
                    Id: "0"
                },
                autowidth: true,
            }).navGrid('#pager', {
                edit: true,
                add: true,
                del: true,
                search: true,
                refresh: true,
                closeAfterSearch: true
            });
            $('#btnSave').click(function () {
                var customers = new Array();
                $('.ui-row-ltr').each(function (index, item) {
                    var customer = {};
                    customer.CustomerID = $(this).find("TD").eq(0).html();
                    customer.ContactName = $(this).find("TD").eq(1).html();
                    customer.City = $(this).find("TD").eq(2).html();
                    customer.Country = $(this).find("TD").eq(3).html();
                    customers.push(customer);
                });
                $.ajax({
                    type: "POST",
                    url: "/Home/InsertCustomers",
                    data: JSON.stringify(customers),
                    contentType: "application/json; charset=utf-8",
                    dataType: "json",
                    success: function (r) {
                        alert(r + " record(s) inserted.");
                    }
                });
            });
        })
    </script>
</head>
<body>
    <table id="tblCustomers"></table>
    <div id="pager"></div>
    <hr />
    <input id="btnSave" type="button" value="Save" />
</body>
</html>
Screenshot
Values in controller

Message after Insert
