Can I get an early release from my company

Can I get an early release from my company . I have resigned from my company on 27th July,2016 and can serve notice period up to 26th August,2016 as I have to join another company but my current company is forcing me to serve the entire notice period of 90 days. I am ready to pay the entire amount for the remaining notice period days but they still wants me to serve the entire notice period.However , my current company has approved the 90 days notice period and rejected the early release request. Notice Period Clause in my offer letter : The contract of employment between you and the Company may be terminated by either party by giving 90 days written notice or 3 months gross salary in lieu thereof. However release from the services of the company will be subject to satisfactory handover of the responsibilities assigned to you. In the event of wilful neglect or breach of any terms hereof or refusal on your part to carry out the lawful instructions of any member of the company or being guilty of misconduct , the company may terminate your employment forthwith without notice period. Regards, Aishwary