Business Management Studies

There any many other top colleges in Mumbai such as SPJIMR, NMIMS, JBIMS, IIT MUMBAI, NITIE MUMBAI. Target these colleges. These colleges will give you better opportunities. Also, most important thing in brand which is essential in doing EMBA.
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If you are considering joining college without writing any exam. Than either you are looking forward to back door entry or low grade college because than only your wish will get fulfilled. Its better to give some entrance exam you can consider giving GMAT apply to some good colleges. Take your decision wisely its about your career.
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No certificate is equivalent to MBA/PGDM. Though websites offering such courses advertise it like that but it is not the story. Certificates just provide you with bit information when you compare it with 3o hour sessions per subject in full time MBA. The experience you will get in classes among peers is much more and cant be compared to online certificates. Certificates are like side learning and not for replacement for full time courses.
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Yes, he can do fellow programme in management in IIMs. These courses are meant for highly experienced aspirants. In your case by serving nation your friend might have learned various management techniques in day to day operations. Go through IIM A, B, C and other IIM websites go through their course called Fellow Programme in Management.
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Very good chances. Question is- are you really looking forward to join that course because you will than be restricted in your career choice as it is meant only for students looking to start their own startups or business?

Never heard of it. Get familiar about top colleges by going through reputed B school ranking. I used to follow TIME B-School ranking, career launcher ranking is also fine. Check out Shiksha's ranking also you will get a clear picture then.
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Does it really matter? If you are considering doing EMBA, then better look for top MBA colleges such as IIM XLRI. Also, getting into EMBA in these colleges is much easier. Take your decision wisely.
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These are two different birds from completely different continents. You cant compare these courses, if you are from a technical background interested in further studies in computers than go for MCA. But, if you are looking to diversify your profile better do MBA. MBA will get you a job in business domain unlike MCA which opens opportunities mainly in research and academic areas.
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It is always advisable to join full time PGDM/MBA general programme and not specialised one. If you are genuinely interested in that course than only join it because once enrolled than it will be difficult for you to change your domain. It is your career decision don't just go with the college brand do give more weight-age to course. I really don't know about the course but it seems to be really specific. Take decision wisely.
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I don't know, maybe, try and apply to different job openings.