After failing in 12th standard, some colleges will give you admission but in that case they will take some donations.
Moreover, you'll be asked to reattempt the exam again until you don't pass 12th. Without that you'll not be qualified for anything.
So it will be difficult to continue two courses simultaneously. Again it will affect your college studies.
So it will be better if you drop one year, appear for the exam again, you'll get better college.