Hy Zeeshan,
as you want to delete the expired batches the financial value needs to set to zero. This is done by die counting journal (set counted qty = 0) as it is posted as defined in journal setup.
The onhand sum should be 0 now after posting the journal. If there are still lines for this batch in inventory onhand list with qty=0 may by the periodic inventory batch "Onhand entries cleanup" could remove this, but I'm not complete sure at this point.