Airtel IPTV is recommended by me.
Pros:
Not too expensive
Contains most(or rather almost all) of mainstream channels
Always on, even during rains. No disruption
Time Shift TV: It automatically records a few channels itself and one can watch them later up to one week at anytime any number of times.
Cons:
Not available in HD quality, like DTH
It takes time to change channels and it irritates at times
Default remote supplied by the company is not exactly user-friendly