I checked with them and they replied:
With regard to Sikkim Manipal University, IQAS only assesses its credentials that are recognized by the competent authority of the country, the University Grants Commission (UGC). For distance education programs from the university to be assessed, they must be approved by the Distance Education Bureau (DEB) of UGC or its predecessor, the Distance Education Council (DEC), and must be deemed valid as per relevant UGC regulationsand rulings of the Sikkim High Court and the Supreme Court of India. Your MBA is not included in our assessment because Sikkim Manipal University does not have territorial jurisdiction beyond the State of Sikkim, and any study completed at an unapproved campus or study centre outside of Sikkim is considered unrecognized.