Is it true drinking a combination of lemon juice, ginger juice, garlic juice & apple cider vinegar, mix with honey will reduce cholesterol?

No. I imagine that you saw through this screwy claim. I suspect it's a cruel prank. Manage your cardiac risk profile by lifestyle and perhaps medication; especially, don't hesitate to get into serious aerobic fitness.
Somewhat. To the extent that you substitute your cocktail for animal based food (like meat), it will lower your cholesterol.