Company Notice Period

Hi Experts,
I would like to know something about the notice period policy of public companies. In my company as per my Band and designation , notice period is 3 months. I have a better opportunity somewhere else and they're asking me to join within 30-45 days as the requirement is a little urgent. So i would like to know if there's any way to negotiate notice period with my current company.
Recently, i also got to know that as per Indian Govt company laws, there is only one month notice which needs to be served by Employee. No company can force you to stay more that one Month. So please let me know how true is that?l
Please advise me how to go about it. I am really perpexled
Many Thanks

Dear Rahul,
It is right that no company can force to give more than a month notice period, check you appointment letter for the same clause, if it is for one month than depend upon the same you can place your arguments, if it is more than a month, than ask your employer to take short fall notice pay cheque to resolve the matter, normally conpany's do this kind of practices where in such employee wants to move earlier than it has to be.