Hi,

Doing any M.Tech or engineering course through distance or correspondence is invalid as per the new rules. So when the degree is invalid, it wont ever be considered. Yes part time M.Tech is low on the preference lists of most recruiters. In fact many consider the courses as ineligible so I would advise not to go for anything like that unless it  is a sponsored one by the company you are working for. This also is a low probability as most companies who sponsor also prefer a regular full time one to get the maximum benefit.