Sherwani, bandhgala and Jodhpuri are used almost interchangeably in shops, and they are not the same garment. The difference is mostly length, and length changes everything about how formal a piece reads.
Sherwani
Long — usually to the knee or just below — buttoned through, worn over churidar or straight trousers. It is the most formal of the three and the traditional choice for a groom. Because of the length, proportion matters enormously: the same sherwani that looks stately on a tall man can swamp a shorter one, which is why the hem is judged on the body at a fitting rather than taken from a chart.
Bandhgala
Jacket length, closed standing collar, worn over trousers. It is the most useful of the three by a distance. Formal enough for a wedding you are attending rather than starring in, and comfortable enough to wear to a business dinner in Kolkata weather where a full suit would be punishing. If a man is going to own one piece of Indian formalwear, this is the one to own.
Jodhpuri
Effectively a bandhgala suit — the jacket with matching trousers, cut as a set. It reads as a more formal bandhgala and sits neatly between the two, and is a strong choice for a reception where a sherwani feels like too much and a suit like too little.
Choosing by function
If you are the groom at a traditional ceremony, sherwani. If you are the groom at a reception, Jodhpuri or a well-cut suit. If you are the brother, the friend or the father, bandhgala will serve you at that wedding and at fifty things afterwards.
The collar decides it
All three live or die by the standing collar. It must hold its shape without gaping at the throat, and it must not press when you turn your head — you will be turning your head all evening. A collar is cut to a specific neck, which is the honest reason these garments are worth having made rather than bought to a size.
Book earlier than you think
Between November and February every good tailor in Kolkata is full, and again in the weeks before Eid. Three weeks is a comfortable run for a sherwani. If your date is inside that window, hold a slot now — we can come to you to measure, and for a wedding party it is far easier to measure everyone in one sitting.