Dear  sundharshan , firstly thank you for refering careers360.

Of course you can apply for more than one scholarship. In fact, until and unless a university's rules or a particular scholarship's rules say otherwise, you should apply for as many scholarships as you can. This way, not only do you increase your chances of getting at least one scholarship, but also increase your total funding from bagging more than one scholarship. In fact LSE Graduate Support Scheme guidelines specifically mention that they give preference to students who have applied for other scholarships. So apply for as many scholarships as possible. 

All the best !