I have completed B.Com and planning to pursue MBA from abroad. Can I apply directly for MBA?

You will have to apply for entrance exams like CAT, CET, ATMA, MAT, CMAT, etc. and the college will be allotted on the basis of your percentile.

The best you can do is you can prepare for GMAT and if you get good GMAT score then you can do MBA at affordable rates, neither direct MBA admission without any test is bit expensive or you can go for CAT due to new business environment new opportunities are on the way.

Many institutes overseas insist on GMAT and TOFEL scores for admissions in MBA. You need to check on the requirement and then apply.