Distance

No, it is not valid, but if you have any doubts then you visit the official websites of UGC and AICTE.

Hello Manuraj,
If you're able to get admission into top B-Schools in India, then you may go for MBA. Else, I would suggest you to go for a job first. The market is currently too saturated with people having Master's degree (M.Com, MBA, etc.) but with no experience. Gaining experience of minimum 3+ years will gain you an upper hand in terms of salary and career opportunities once you complete MBA.

You should choose some government university for distance MBA rather than private ones. Also, take care that the university is in Gujarat itself or else it should be central university. My recommendations are IGNOU, University of Madras and Pondicherry University. These central universities have study centers across the country. Don't choose private or universities owned by other states, it might be risky.

ICWAI is itself a distance learning programs with study cum admin centre in all major cities in India. Definitely, you may pursue ICWA. For more details and its procedures, kindly visit the respective website of ICWA (ICMAI).

I have a great experience with IIBM Institute, I have done my Master program in business administration from IIBM Institute with very good percentage. As per my experience, IIBM is good for online courses.

With Commerce and without Maths background, you will find it difficult to get admission in BCA in majority of Universities. IGNOU allows non-Maths students to seek admission in BCA. They have to do additional Maths paper beside BCA syllabus. Your decision to do BCA from IGNOU is good. You are advised to plan education upto minimum MCA for good career.