As per my knowledge, one can pursue dual postgraduate degrees in distance learning mode at the same time but not in regular mode. So, yes you can pursue your double master's degree if either or both are through correspondence or in distance learning mode.
Secondly, if it is written in your prospectus, you have written documentation in your support, so you may go ahead with your plans. M.Com is a theoretical course and if you have a good grip over commerce, you can definitely pursue another subject side by side, but if it is not the case, I suggest you focus on this degree and try to secure good scores in the same.
If you want to learn something in addition to your degree, you may join some part-time courses for Tally or SAP, etc which are in demand and in use in the commerce field nowadays and may help you in getting a good job afterward.
Living & Learning- simultaneous processes!