According to the UGC, no universities have been approved to allow students to pursue dual degrees or master's degrees at the same time. Even if you register for one degree at IGNOU and another at another distant or regular university, it will not be valid because UGC does not endorse that. You cannot display both certificates at the same time.
As a result, it is always preferable to complete a B.Com before pursuing an MBA. B.Com in addition to BBA is a challenge. After completing your B.Com, you can enroll in IGNOU's MBA program.