Two missed approaches MAXIMUM and you divert unless the conditions have improved significantly. When you decide to divert make sure you alternate is going to allow you to land.
In mitigation I would point out that weather forecasting in India leaves a bit to be desired and they may have been caught out with unforcast fog at VOTV, a similar incident occurred in Australia a while back where two aircraft diverted to Mildura which then became fog bound.
The avherald report also list VOTV as being south of Kochi, which would put in in the ocean as Kochi is on the southern tip of India.