No,  U need to score better for admissions.

Eligibility for MBA / MBA (I&E)
Graduate from any statutory / recognized university with a minimum of 45% for SC/ST)
Candidates appearing for final year examinations can also apply, but their admission will be subject to obtaining a minimum of 45% for SC/ST) in the qualifying examination.

Thanks,
Azim

Yes minimum 50%aggregate marks in graduation of all semester is mandatory for top Bschools for eligibility .

Admission however is based on entrance exam scores and GD Pi Conducted by Institute which will decide overall cutoff . 

Since you have 51% aggregate then you are eligible.