Hi,

You will have to clear all the semester exams of your UG level to take admission in an MBA programme. Also, you have to score a minimum of 50% (may vary from college to college/ university to university) in aggregate in your college.

If you have compartment in one subject in your final year, your admission will stand void even if you clear an MBA entrance examination. However, some colleges may roll-out conditional offer letters for admission, provided you clear the subject exam before the MBA/ PGDM course starts at the college. 

Please check personally the criteria for each college you are interested in and their flexibility with this rule. But yes, you do have to clear all your compartments at the UG level to pursue an MBA.

Hope this helps.

Cheers!