You should have technically completed your Graduation at the time of counselling and admission. Now final year Candidates also can appear for entrance examinations for MBA. Those Candidates who are appearing for their final year exams at the same time of the entrance exam, will get provisional admission if they qualify in the entrance examination. Their admission will be considered complete and final based on their Bachelor's degree aggregate and completion of the course. In short, lets say you will complete your Degree in 2020 and you are appearing for CAT 2020, if you secure a good percentile, you will be given a provisional admission after receiving a letter from your Principal or HOD stating that you fulfil the eligibility criteria for the entrance exam. And once your final year results have been announced and you submit the relevant proofs, your admission will be finalized and confirmed.

Yes last year graduations students are also allowed to apply for CAT EXAM to be a part of MBA programme. The other criteria is that candidate must have 50% OR aggregate and above in his bachelor's course from a recognized board and University.

To know about the eligibility criterias in detail, please refer to the link given below..

https://bschool.careers360.com/articles/cat-eligibility-criteria

Best wishes. Thank you.