Finally I was able to solve the above after researching on the net. Here I have removed the menu items by unregistering the content type.
function remove_post_types() {
global $wp_post_types;
if ( isset( $wp_post_types[ 'post' ] ) ) {
unset( $wp_post_types[ 'post' ] );
unset( $wp_post_types[ 'post' ] );
return true;
}
return false;
}
add_action('init', 'remove_post_types');