Cannot delete current Fiscal Year


In my current ERPNext installation I have fiscal year called 2022 which starts from 1st Jan 2022 and ends on 31st Dec 2022.

I want to create a new fiscal year as per Indian books of account for year 2022-23. In this case the year starts from 1st April 2022 and ends on 31st March 2023. But I am not able to create this year as I get error message

Year start date or end date is overlapping with 2022. To avoid please set company

I have two companies set and even if I select a company which I has created recently still I get the same error message.

To solve this I tried to delete existing fiscal year 2022 but then I am getting error message

You cannot delete Fiscal Year 2022. Fiscal Year 2022 is set as default in Global Settings

It seems like I am caught up in a vicious cycle where I cannot add a new fiscal year with overlapping dates nor can I remove the year name from Global Settings.

How to solve this problem?