hi,

see to admission to any post graduate course, you must complete the bachelors degree and should not have any arrears at the time of admission. having not completing the degree or any exams includes in bachelors course like arrears may lead to cancel your admission. if your mba admission in on january and have backlog papers exam on september, there is chances that you will not eligible for admission. most of the institute mentioned in their admission notifications hat final year students are eligible to apply, but at the time of admission they  must have complete degree course certificate to submit.

so once your arrears exams are cleared you may apply for any of the pg course.