Hello,

Yes you are eligible for the NTA UGC NET Exam if you are doing the Masters from the IGNOU as the distance learning degree is also eligible in the exam

University Grant Commission is an organization of India in accordance to the UGC Act 1956 under MHRD, Governs by Indian government. No university is permitted to run colleges without the approval of UGC.

It is a major condition if your university is not UGC approved. If it is not approved by UGC it is considered the illegal or fake university. And your degree is considered invalid.