That's against their TOS. In reality, the coupon is for a new customer in general. Just because you make a new account, doesn't entitle you to use a coupon on it, unfortunately. Buying these coupons is against they're terms as well, and could come back to hunt you.

Also, you would need different billing address on each account or else they will know you are ripping them off. If I were you, I would stay away from doing this.

Here are the terms for Adwords in India:
Terms and conditions apply for online advertising promotional credits ? Google AdWords

IF you do decide, to still go through with it, you're account will more than likely get banned.

Surajpatel4ever,

Running the multiple accounts from the same IP is fine. Its buying the coupons that is going to get you in trouble. If you use those on the account, you will most likely get banned.

Best,

Shawn

Your site/account will be flagged as code name Sarah Connor, tracked down & terminated.

It won't let you enter an ad pointing to a URL that already exists in another account.

Also, AdWords is very "big brother" - they're not only tracking IPs, but also the MAC address of your router/modem which really makes your idea difficult to pull off.

Having multiple account is against the TOS. If you violate the rules, you may get warnings or suspension of your account.