CAT

You need the following criteria to be eligible:
A composite score of 600 or above in the Management Aptitude Test (MAT) conducted by AIMA in either September / December 2015 / February 2016 OR a composite score of 450 or above in GMAT 2015 OR 70 percentile or above in the Common Management Admission test (CMAT 2016) OR 70 percentile or above in the Common Admission test 2015 (CAT) conducted by the Indian Institutes of Management (IIMs) OR 70 percentage or above in the AIMS Test for Management Admissions (ATMA) 2016 OR 70 percentile or above in the Xavier Aptitude Test (XAT 2016). And 50% or above marks in aggregate in the undergraduate examinations. (Applicants who are in the final year of their studies should have 50% or above aggregate in all the semesters / years of undergraduate examinations conducted so far). Students writing their final degree examinations during March-May 2016 are also eligible to apply.

Hi Rohan,
Yes, you are eligible to appear for the CET exam.
It is important and necessary to understand difference between the two tests.
The Common Admission Test (CAT) is a computer based test held in India. This test scores a person on the bases of quantitative ability, data interpretation, verbal ability and logical reasoning. The Indian Institutes of Management (IIMs) started this exam and use the test for selecting students for their business administration programs.
CET Common Entrance Test is conducted in Maharashtra to give the admission in MBA/MMS/PGDBM/PGDBA courses. The exam is conducted by Directorate of Technical Education (DTE), Maharashtra.
CAT is a test designed to select only top percent from a large pool of students. As a result, it is a conceptual test, which is a good mix of moderate to difficult questions and where selection of questions is crucial.
On the contrary, CET is a test to have uniform distribution on both sides of normal curve. As a result, CET is designed as a speed-based test, which consists of easy to moderate questions.
Again, in CAT one has to perform across all sections covering various areas of expertise
In CET there is no sectional cut-offs. Randomly distributed questions make things difficult if you want to attempt your preferred area of expertise across the test. Also, there is no negative marking in this exam.