Hi adarsh,

Sorry to tell you that you won't be eligible to apply for graduation after failing in one or more subjects in HSC. Because, HSC is a basic foundation for a student those who are interested to study higher studies such as btech, bba, etc.., So, you can just appear for re-examination and clear the subject, only thrn you will be allowed to apply for graduation. 

Hope this information would be helpful and best of luck !!