Yes, you can apply for NMAT exam to get admission in reputed b-schools. The only criteria in your case would be you need to clear you final exam of bachelor's in single attempt only then youllyoullybe given admission letter .

Hi Kapilash,

For doing an MBA, you only need a Bachelor's degreee and must clear the entrance examination and GD PI rounds. 

The eligibility criteria for NMAT says that the candidate must be less than 25years of age and must have a full time bachelors degree with a minimum aggregate score of 50%.

Since a distance education is not treated as full time degree, in my opinion, you would not be allowed to attempt. However, if you still have doubts, you can go to the official NMAT website and post queries on their Query tab or mail them or reach out to the help desk over a call.