I am perusing my CA @ have completed my B.com through OU distance education. I would like to do MBA in USA, but i heard that distance degree is not valid to do MBA in USA is that true?

No it is not true. The only condition that has to be fulfilled is that the degree has to be recognized by UGC or AICTEE. If your degree is recognized by these bodies, then your degree will be accepted in US. Hope my answer has solved your query. If it has, kindly mark it as best answer.