Comment on Policy on settlement of compulsory delivery derivative contracts — Update Oct 2019

I got an email from Zerodha, about compulsory delivery of stock based on the options contract I hold.

I have Ashok Leyland options as :
1. 42.5 PE Short – qty 4000 pcs
2. 45 PE long – qty 4000 pcs

Prior to expiry can I buy two lot of (8000 pcs) of Future Contract to Net-off the position instead ? How the charges will levy on such ?

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