Mysql Error - ERROR 1016 (HY000): Can't open file: '..frm' (errno: 24)

The following error implies that Too many open files.

ERROR 1016 (HY000): Can't open file: '..frm' (errno: 24)

To rectify this set the system variable open-files-limit in MySql my.cnf file.

For ex. as,

open-files-limit = 5000

One will get this error if so many instances of table(s) is used in a query.