CAT

Good morning dear,
Yes, it's a good institute. All the institutes are good for providing guidance to the students. It is on the student what sort of training or guidance suits him/her and how he/she takes it forward.
Thanks and all the best.

A minimum of 95 percentile and above is required for IIM admission.

Hi Swapnil ,
The decision depends on you. If you are targeting CET Exam only then definitely, you can work and prepare for it simultaneously. For CAT exam, you need to dedicate some more time compared to other exams. If you are working hours are good enough and are providing you ample time for CAT, then go for it. Otherwise, you need to take a year gap for dedicated preparation.
Your decision will depend on the colleges you are targeting.
I will be glad to clear your doubts.
Hope it helps.

In India, lot of entrance exam conducted by college other than CAT/MAT are XAT/CMAT/NMAT/TISS/X-GMT/MICAT and several other state level test.

No, without CAT admission is not possible in IIM. It is compulsory to attempt it for admission. You can go for private colleges for admission if you have not given entrance exam. Thanks!!

It is good for CAT only not for XAT.

At 50 percentile it will be difficult to get top tier colleges. You can look for one more attempt for CAT and other MBA entrance exam. At this score you may try for state engineering colleges MBA department. You can also look below link for this year colleges predictor-
https://www.shiksha.com/mba/resources/iim-call-predictor.

No you need to prepare for GK as well. There is sectional cut off for GK in IIFT. Yes, preparation for CAT and IIFT is similar. You can check the syllabus for IIFT on below link
https://www.google.co.in/amp/s/www.shiksha.com/mba/exams/amp/iift/syllabus
Also check this link-
https://www.google.co.in/amp/s/www.shiksha.com/mba/exams/amp/iift.