Don’t act in haste and do not commit the mistake that majority of the employees commit.
Has the new company issued any offer letter to you?
Did you inform the interview committee that your notice period in current employment is 3 months?
You should inform the new company preferably in writing that as informed during interview the notice period in current employment is 3 months and current employer is unwilling to relieve you before expiry of notice period and it may not issue you acknowledgment and acceptance of resignation, service certificate, relieving letter, FNF statement and settlement, last salary slip etc…………………………and you can not submit these till these till these are supplied to you by current employer.
Therefore the new company should either increase the validity of offer of appointment from 1 month to3 months or absorb you on the strength of copy of resignation submitted by you and its proof of dispatch (not POD) and waive off any condition of supplying acknowledgment and acceptance of resignation, service certificate, relieving letter, FNF statement and settlement, last salary slip etc from current employer.
You are in which state and HO/Redg. office of the company is in which state?
Company has issued the offer letter or appointment letter to you?
Offer letter is issued after selection and an offer of appointment is made and the appointment letter is issued on joining the company.
Has the company stated notice period during probation period and upon confirmation of service separately?
Has your services been confirmed in writing by the company?
It is felt that you have not drafted your notice of resignation appropriately.
You may take the help of elders in the family, competent and experience well wishers, lawyer/law firm, Trade Union Leaders, IT employees associations and cite the concerned clause on notice pay and termination in offer/appointment letter issued to you.
Instead of writing to relieve you as soon as possible you should mention the notice period being tendered by you clearly and affirm that the notice pay be adjusted in FNF statement/settlement or affirm to tender it by cheque against receipt on the spot on hearing favorably from the company.
IT/ITeS companies are covered by Shops and Commercial Establishments Act of the State.
You may also look into this enactment and its clauses.
If the standing orders are applicable to the establishment you may ask for certified copy of CSO (certified standing orders of the company or model standing orders whichever is applicable and request to inform you the fee so that you can deposit under receipt on the spot).
If notice period in standing orders is 1 months it can not be 3 months in appointment letter.
You may find the thread relevant and useful.
https://www.lawyersclubindia.com/forum/How-can-i-avoid-notice-period-recoverable-amount-90592.asp#.UmPUQXCAqWM