If I have to reply technically, I will say yes.
But, practically what happens is that Governor relaxes imprisonment only after undergoing imprisonment of approx. 70% of total duration and that too if conduct in jail remains very good continuously providing a feeling that the person is changed and feels guilty of what he had done.
Please don't get confused due to Sanjay Dutt. He may be good actor and influensive and on advocate advise he might have shown to society that he feel guilty for what he has done and thereby got some supproters. But, you will see him too behind bars for now. Even if his application for waiver would be considered it will be dismissed at this stage and might be granted only after approx. 4 years of imprisonment.
Supreme Court of India