As there are two rounds to held for councelling, round 1 and round 2. Admissions for there rounds takes place for candidates who have registered for it and according to their choice preferences. Now all the seats which are left vacant during the first two rounds, for them a mop-up round is held. Here its like first come and first serve, the seat will be given to any candidate present who have qualified the exam.

As I know Mop up round start at the end to complete the seat in given college and college wise list in respect to the category were displayed and fill as first come first.

Mop up round is the counselling process of seat allotment by respective states against the reverted seats from All India 15% quota. This gives Candi a chance to claim government seat irrespective of lower marks than actual state cut off.
And No, is not on a first come basis

No, it is not related to first come first serve basis as this is a kind of last round of counseling to fill the vacant seats which are not filled under 15% quota and converted to state seats. So it is advisable to try for the same as t his gives a better and last chance to claim a Govt seat even if your marks are a bit lower than actual state cutoff.

Hope this helps!!!

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