Hello Akshay
It is possible to implement BGP on a LAN. However, it is not at all desirable. There are many reasons why, but probably the most important one is convergence time.
Internal Gateway Routing Protocols (IGRPs) such as EIGRP, OSPF and RIP are designed for comparatively fast convergence. This means that if a router goes down within your network, typically routing will be restored (assuming an alternative route exists) within dozens of seconds. BGP typically has a network rerouting time exceeding 3 minutes. This of course can be tweaked, however, for typical internal networks, IGRPs are always your best bet.
If you are Microsoft or Cisco and you have a huge worldwide corporate network, you may want to employ BGP between your sites, however, internal routing will always be IGRP for the vast majority of networks.
I hope this has been helpful!
Laz