Not to be judgmental, I know few of my colleagues and subordinates went to SP Jain Global cause they could not get admitted to any other top school. These people were not very bright - the kind of classmates from whom you would learn a great deal. The intake criteria is influenced by west, but the overall class environment remains very Indian. One of the colleagues had to come back to the same company with help of his existing contacts, with a different role but almost same package. Few were placed in Accenture and IBM, but overall I would not believe that they had any life changing experience. But, they did enjoy their studies and the global locations very well - with continuous updates on FB.

SP Jain regular 2years MBA has greater recognition in Indian market.
Whereas, the colleagues who did MBA from ISB definitely have got broader mindset, got better package, and ,in overall, enjoy better brand value.
If your goal is to stay back in India, IIMs are worthy options as well- for their brand value and strong alumni network.
Personally, I would still prefer a global school - only to get rid of Indian counterparts. Indian schools, except ISB to some extent, are flooded with similar minded Indian students who from day 1 run after CGPA. The B-School is supposed to be a place where you learn from faculties and your peers as well, apply your knowledge to real word problems, and develop your collaborative and team building skills.