As per the UGC norms, you can't pursue two regular degrees simultaneously but if you want to pursue one regular degree along with the one through distance mode, you can do so if are capable to take two courses at a time.
But I would suggest you go for one degree at a time, because it may create a problem for you during the exams if exam dated clash.
The second point is that if you want to apply for a teacher post after completing both these degrees, it may create a problem because two degrees in the same year will not be accepted by concerned authorities at the time of verification of certificates.
However, if you are committed to go for two degrees simultaneously, I suggest you to keep a gap of at least six months or a year so that date of degrees completed doesn't clash.
Hope this helps you to some extent.