IGNOU - Indira Gandhi National Open University

Yes, you are eligible because there are many universities in India which allow you to come for admission if you have passed your previous degree.
Only a few campuses are there which allow for admission after taking exams like CAT and should have good marks in Bachelor's degree. But this doesn't mean that the door of every university is been closed.
You can enjoy MBA. So, just search a few top rank universities and take admission, but most of the private universities will allow for admission and there are some top rated private universities are also available.
Well, to be perfectly honest, I am sorry to say that most of the reputed institutes abroad consider your throughout achievements as a tool to determine your overall development and personality to judge you.
So, no matter in which graduation you got 49%, I am afraid it will be pretty difficult to get through.

Hi, The OpenMAT entrance exam for MBA and other Management courses by IGNOU is conducted twice every year. The dates for OpenMAT should be carefully noted so that you don't fall behind the schedule of application submission, test date, etc. The upcoming exam is OpenMAT XLIII and is scheduled to be conducted on 4th February 2018. The previous one was conducted on 20th August 2017. As a candidate who wishes to appear in the test, you should be aware of the following dates: To attend the OpenMAT entrance exam you should submit the exam forms on or before the last date at IGNOU HQ via post or in person. Your application form would be rejected by IGNOU if your application reaches IGNOU HQ after the last date for submission of filled application forms. The dates are as follows: OpenMAT XLII: 15th July 2017 OpenMAT XLIII: 15th December 2017 http://ignoumba.in/openmat/important-dates#application-dates.