Are SPJIMR (Bharatiya Vidya Bhavan's) and SP Jain School of Global Management related in any way? If they are not related, which one is better?

I am going to address the most common misconception that SPJIMR and SP Jain are somewhat related. 

Establishment: SPJIMR was established in 1981 and is associated with the Bharatiya Vidya Bhavan, one of the only two institutes of national importance. SP Jain on the other hand was established in 2005. SP Jain or Sheehan Prasad Jain provided capital for the foundation of SPJIMR during its establishment. Later they decided to launch their own brand in the name of SP Jain. This is the main reason why people get confused between the two.

Campus: SPJIMR is solely Mumbai based and has no other campus whereas SP Jain’s Mumbai campus is one of the 4 campuses of the institute.

Legacy: SPJIMR is 36 years old and has a legacy of providing excellent management education focusing on value-based growth. SP Jain is a relatively new institute that is yet to build some credibility in order to impact the Management scene in India.

Alumni: SPJIMR has a much stronger and broader alumni network than SP Jain.

We can draw the following points of conclusion from this comparison 

• SPJIMR is the authentic SP B School everyone is looking for
• The quality of education at SPJIMR is at elegy with that of International B Schools which is not the case for SP Jain
• The little game achieved by SP Jain is because of its accidental linkup with SPJIMR
• The schools are definitely not rivals as SPJIMR is way ahead of SP Jain. We cannot really compare a 10-year Institute with a 36-year-old one.

I hope my answer has cleared all your doubts regarding the relationship between SPJIMR and SP Jain.