CMAT

CMAT is a national level entrance examination conducted by All India Council for Technical Education (AICTE) every year as per the directions of Ministry of Human Resource Development (MHRD), Government of India.
This test facilitates institutions to select suitable graduate candidates for admission in all management programs.

You can consider the below mentioned colleges to get admission on the basis of CMAT scores:
1. Welingkar.
2. KJ Somaiya.
3. IFMR.
4. BIMTECH – Noida.
You can check the below mentioned link for the colleges accepting CMAT score:
https://www.shiksha.com/mba/ranking/top-mba-colleges-india-accepting-cmat/2-2-0-0-5822

No, it is not mandatory to write CMAT exam for MBA entrance. You can appear for other exams too like CAT, XAT, MAT, ATMA or SNAP to get into premiere B-schools.

Yes it is possible that IFMR will consider you for admission if your CAT percentile is exceptionally well (>95 percentile) with a good work experience.

CMAT is an entrance exam conducted for joining the management studies in AICTE approved colleges and there are pretty much good colleges with an advantage of decent placements after the completion of course. So, you should prepare well for CMAT and you can take classes for cracking CMAT exams.
All the best.

In order to pursue MBA, it is compulsory to clear the entrance exams. If you do not wish to give CMAT or CAT, you can give other entrance exams like CET, NMIMS, XAT, MAT and SNAP.

Sure, IFMR accepts the score of CAT,XAT,CMAT & GMAT.

Below mentioned are the best colleges:
1. Jaipuria.
2. IBMR.
3. IIBs.
You can check the below mentioned list:
https://www.shiksha.com/mba/colleges/mba-colleges-in-indore
My recommendation would be IIM - Indore as well, if you can appear for CAT exam.
Good luck.

CMAT is better because it has better colleges than MAT.

Yes. The cutoff for admission through CMAT score is around 85 percentile