Hello S K, Before you jump to any conclusion, I want you to go through VJIM official website FAQ's - VJIM demands minimum 50% percentile  in CAT/XAT/MAT/ATMA/CMAT Because it has clearly mentioned that NO CAT/XAT/MAT/ATMA/CMAT requirement be waived under exceptional circumstances. 

Proof - http://vjim.edu.in/faqs-2/

They have mentioned, All the applicants would be given a fair chance to appear for the Personal interview. candidate with 50% percentile and with a good Professional degree and considerable work-experience may, academic record, and performance in the personal interview stand a better chance of getting selected. 

All the best....