Macbook pro late 2012 video display

the 13" Macbook Pro has an integrated Intel HD4000 display driver.

the 15" Macbook Pro has a dedicated Nvidia GT 650M 512MB (or 1GB) Graphics Processing Unit

the repair/replace of the hardware offer Apple provides does not apply to your system because it does not exist on your system.

So specifically what is happening and have you taken any steps to try and rectify it yourself?

Hi karthikeyanfromcary, it's unfortunate that is isn't covered. What do see on the display that leads you to believe it is the video card and have you run Apple Hardware Test? Using Apple Hardware Test - Apple Support

AHT is not conclusive in finding problems. The proprietary software they use at Apple Stores to diagnose hardware problems is much more thorough. But if AHT does identify a problem it is usually accurate. You could also bring your Mac into any Apple Store for a free evaluation.

Attach an external monitor to the Mac and mirror with your internal display. Does the external monitor show the same problem

vertical and horizontal lines of different colors on the top of the screen

That is likely to be A graphics hardware problem. But it is not THE problem covered in the recall program you cited.

The recall program you cited is for a cooperation problem between built-in Graphics and Discrete graphics. Your MacBook has only built-in graphics, so it cannot have the same issue covered in the recall.