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What is the applicability of M.Phil. (LIS) from distance education which not supports by UGC?

Dear all !!
I would like to know what is the applicability of Mphil. as well as PHD. in Library and Information Science, nowadays from distance mode.
I remember two years back (June 2006) a notice circulated by the UGC that no university can offer M.Phil in distance mode and if a university offer such progrmes that university has to take approval from Distance Education Council .
Some universities hides these facts to the students whether they have taken approval or not.
Most of the students are still confused by this statement.
My question is how we can know the reality of recognition of ' Distance Mode' higher education?
Hundreds of students are pursuing their higher education from distance mode.
What is the future of those? Are not they wasting money and their valuable time ?
It is my special request to the senior and experienced members please let me know the clear picture of current scenario.
Thanks !!

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thank u for this nice thought provoking discussion sir
I would like to thanks your appreciation and courage.... Please keep it up sir it will rocks !!
dear saini its nice to see many collegues with M Phil/ Ph D let me put this way please do really something really valuable to the community, sothat all your efforts are fruitfl. Please do not do for just earning a degree but do it with effort,effective aswell as some good direction to others too.
I got my answer !! thanks sir

We need Higher Education (mphil & Phd) for enlarge our knowledge, skills and self respect. These are the basics requirement after a particular stage of mind.

Thanks once again..

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