ICFAI Business School, Mumbai Affiliation

IBS, Hyderabad is a deemed to be university and is UGC recognised and offers a 2-year full-time MBA programme which is a residential programme. AICTE approval is only given to autonomous institutes which offer post-graduate Diplomas (which are again equivalent to 2 year MBA programme). On the other hand, IBS, Mumbai is affiliated to the Hyderabad and is not AICTE approved and offers a 2-year full-time postgraduate programme in management (PGPM). I personally don't think that having an AICTE approval would matter because every year lots of companies visit the campus for placements. So, as far as the college is providing placements, AICTE approval will not be an issue because at the time of your interviews, companies will look for what have you done in 2 years and not AICTE/UGC for that matter. Also, IBS-Mumbai offers a parallel MBA degree programme also which is awarded by ICFAI University, Dehradun which is a UGC recognised university and that programme runs paralelly with your PGPM programme if you wish to opt for it.
PS: I myself is an MBA graduate of IBS, Mumbai and also applied for MBA degree offered by ICFAI University, Dehradun and also got placed with a good company on time. The only issue is of intake. There the real competition comes in.
Rest all is fine.

IBS-Mumbai is affiliated to ICFAI University (IFHE Group). It is an autonomous university which has its own set of institutions rules and regulations. Majority of the private institutes does not have AICTE recognition or accreditation. Many corporate or business houses does look for AICTE or UGC Approval at the time of hiring candidates from B-Schools. Be it a PGPM/PGDM/MBA/MMS, all matters is the placements that the institute provides to its candidates or students. It is the name or brand value of the institute that makes the difference at the time of placements. Everything right from company's visit, package offered by them, to the profile given depends upon the name of the institute it has with the corporate. Many companies recruit people from B-Schools based on the performance given by their Alumni or ex-students. There are various other big autonomous institutions like IIM (Ahmedabad, Lucknow, Calcutta & others), JBIMS (Mumbai), NMIMS (Mumbai, Hyderabad & Bangalore), Symbiosis Institute (Pune).