Parallel implicit solution of Navier-Stokes equations based on two fractional steps in time and Finite Element discretization in space is presented. The accuracy of the scheme is second order in both time and space domains. Large time step sizes, with CFL numbers much larger than unity, are used. The Domain Decomposition Technique is implemented for parallel solution of the problem with matching and non-overlapping sub domains. Lid-driven flow in a cubic cavity with Reynolds number of 400 and 1000 is selected as a test case. The solution domain is divided into 2, 4 and 6 sub-domains. Time accurate solutions are obtained with time steps 5 times the step size of a stable explicit method. Super-linear speed-up is achieved with the modified Domain Decomposition Technique.