IBS Business School, Hyderabad

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.