Dear ,
well piyush your situtation is Very typical, If you want to get registred in direct entry route the first answer is you are NOT eligible , reason being commerce graduate or post graduate students must have at least 55 % in graduation or post graduation..
BUT... it is also clarfied by institute that is student has 54.4 % he will not be eligible also...
IN YOUR CASE you are having 54.5 % so I feel that the situation MAY BE in your favour due to the provisions of rounding off...
you may refer to the following link I am sending you .. ( also read Question No 1 and 4 carfully)
YOU should give a try for registartion Instutute MAY Consider....
Also , if you submit the registration form you should be aware the once fees paid May not be refundable...
Thanks ,
a well wisher