Do you think ISB Hyderabad charging 30+ Lakhs as fees for an MBA is justified given the fact that the institute is not approved by AICTE or UGC?

Before I share my sister's experience let me clarify something. Corporations do not care if the Institute you pursued MBA from is AICTE or UGC approved or not. They consider MBA degrees as diplomas and titles attached to the candidates for namesake only.

My sister wanted to become a professor at a university. In that light, she cleared NET and applied to DU. But they did not accept her as she did not have an MBA degree. They suggested she get one from a prestigious B School like IIM Ahmedabad. She right away changed her mind about becoming a university professor. So from her experience, we can derive the following conclusions 

• Even the top IIMs don’t grant degrees but diplomas. The fact that they are AICTE-approved or not rarely matters. It’s just the name of the Institute that matters.
• If you are inclined towards a profession that requires a degree or recognition from top B schools like IIMA, only then the degree and the institute's worth become important. Most recruiters don’t care if the institutes are recognized by AICTE or UGC or not.

So look at other factors while considering if the high fees are worth it or not rather than the Institute’s accreditation.