Does septated paramensical cyst of size 14 x 8 mm and chronic meniscus tear in knee can be treated with physiotherapy??

Not really: This is a chronic condition. Meniscal tears are associated with cysts, usually posteriorly, since that's where there's room to grow. Physiotherapy can be excellent at learning to exercise safely and allow improvements in function so that the body can repair itself. It is a pathway to wise and safe improvements in function. The body is the healer, it has to be allowed to do its job.