IIMC (IIM Kolkotta) and IIMB have been the latest entrants in providing satellite based business management education programs via Direcway HECL.
Here are some articles on the latest IIMB program
IIM, Hughes put business school on the web
http://tinyurl.com/5wrpp (Business Standard)
IIM-B logs onto interactive mode
http://tinyurl.com/5q595 (Economic Times)
More details on the IIMB program should probably be coming out shortly.