Dear Mayur,
SMU is accredited under UGC and Directorate of Edu.. While it is safe to do it from there, it is not yet the best recognized amongst corporates and recruiters. I know, more guys are going to SMU these days since the cut-off marks with the better univs. is quite steep leaving one with little choice. Most that I know of are doing Engineering courses on day-boarding.
You can try Symbiosis, Pune, or, IGNOU (good course material), XLRI (if you qualify), XISS, TISS or regional Univs like Delhi, Chandigarh, or, slightly lesser mortals in IMI, IMT, IIPM, MDI, etc.
Some are Univs while some may only have a PG Dip in HRM and many of these have come up with distance learning course offerings (including MBA/equivalents). Do not go by PG Dips that feign/advertise to be "deemed equivalent" to an MBA (unless for IIMs that have Harvard affliation). MBA can only be offered by proper Universities.
For MBA HR, reputation of the University or Institute will matter (especially in India) throughout your career span though with slightly diminishing returns since experience takes over to some extent as you grow over the years. Good MBAs will give you a headstart at the entry/mid-level in terms of titles, corresponding responsibilities & salary offers.
So.. try to do it from one of the more recognized ones (some of which are indicated here), if possible. Afterall, its going to be quite an effort and therefore, do a bit of researching with good ones before embarking on one such course.
Good luck!
Rahul