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PGDM is an Institute autonomous program which is approved by AICTE
MBA is a program which is affiliated to a University.
Colleges which offer AICTE approved courses will also offer PGDM not MBA, for example XYZ College is affiliated to ABC University they offer MBA course affiliated to that University, the same college is offering AICTE approved course it means they are offering PGDM which is not linked to ABC University.
Typically if any PGDM is to be equivalent to MBA then the course duration should be 2 years, a 1 year PGDM will not be equal to MBA course.
Even IIMs, XLRIs doesnt offer MBA degrees they only give PGP Diploma or PGDM since they are autonomous and independent bodies.
Always see College reputation and Placement instead of MBA and PGDM Program.

Veltech University has some good study abroad programs which you can make some great use of during your final semester. Apart from that it's pretty much like most of the section 3 deemed universities.
You'll surely find some great professors but there are many faculties who don't know what they're teaching.
The lab modules are really bad, you have to mug up the experiments and depending on your luck solve the lab exams, which mostly depends on how friendly you are with the lab assistants, which I'm sure is the case in most of the engineering colleges around India.
What you will take back after 4 years of engineering may not be some useful information around your field of study but probably some valuable life lessons and make you more independent especially if you're someone from outside Tamil Nadu.
But in the end, enroll into the university only if you are sure of not getting admission into any other better university.