Hello Sumanth,
it is not possible to delete master data elements of process control in the front end due to traceability.
An option to perform the deletion would be to use the report GRFN_POLICY_ADMIN_TOOL. You can execute that report in Transaction SE38. But since there are various dependencies within in the master data and you could corrumpt data by deletion of elements you should use this report very carefully.
Greetings
Patrick
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