Is there any law in Delhi for encashment of Privilege Leaves?

Hi, I was working with a Private Bank in Delhi. My total work duration with the organization was 3 Years & 7 Months. I had a 3 months notice period but during the last month, the bank gave me an early relief confirming on the e-mail that my notice period was waived off.

Now when i have received my Full & Final Settlement the same shows that the 24 Days of Notice Period which was remaining was adjusted against my Privilege Leaves.

I wanted to check that after getting a confirmation from HR that the notice period would be waived off can the employer (Bank) adjust the notice period from my Privilege Leaves?

Also since laws are as per the states so is there any law in Delhi for encashment of Privilege Leaves?
If anybody can assist me on the same.

Thanks & Regards