Notice period buyout policy

Hi, I am working in an organisation on managerial level from last 4.5 years and a confirmed employee. Company policy says notice period for confirmed employee is 90 days. When I was submitting resignation, I got an option to choose desired relieving date and I choose relieving date of 1 month later to date of submission means I was ready to serve 1 month notice period. I did not got any communication from management in around 20 days and then my reporting manager call and informed me that I would have to submit 3 months complete notice period against which I requested him that giving 3 months notice period will not be possible for me so he said extend it for 15 days from the relieving date so that we can hire replacement and then you may leave. After extending 15 days notice period from submitted relieving date, now my management is saying that I have to complete 3 months notice period in any condition. Company is holding 2 months salary, claims pending to be paid to me of equivalent to 1 month salary and 59 earned leaves (Privilige leaves) and PF of around 1.5 lakhs in private trust. What should I do in such case. I can not be absonding as huge amount is due towards company. Many other people in my organisation have left without submitting complete notice period, have paid for remaining notice period later. Kindly guide.