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It's highly impossible. It's like completing 9th and saying now I feel like doing 8th which is not possible. Correspondence and regular are two different types of courses.

Yes, you can enroll for 2 degrees simultaneously.
Refer to the article for better understanding: http://archive.indianexpress.com/news/students-can-now-pursue-two-degree-courses-at-same-time/1155068/

Hi,
B.com in accounting and finance is a self-finance course.
This is a specialised field in which more stress is given over accounting and finance.
This course is much more interesting and really very loveable. Students who could not clear CPT attempts and want to know what CA is should try this course.
This course is available only in Mumbai.

As you belong to MBC you may have the chance of getting admission but not sure as your rank is 281. So try your best.

Yes, you can do that. One degree as a regular student and another degree through open/distance learning.

Rahul, LPU is a UGC approved university whose all degrees are valid for higher studies and govt.jobs so, definitely can go abroad for MBA. For more information, visit LPU camp office in your town http://www.lpu.in/admisspu-in-your-town.phion/lp#lpu-town Or call the toll free no.1800-102-4431 Or whatsapp on +919876198762 Or mail on admissions@lpu.co.in.

Distance and Regular are two different types of course selection. Regular is on daily basis you attend classes. Distance is you sit at home and study and write exams in the place alloted. So converting distance into regular is not a easy option.