company bond signed on stamp paper ....pls suggest a way out....

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hi friends.....i'm new to pagalguy.....need help from you...here's my case: iam a btech passout(2005)..from andhra pradesh...placed on campus ... i am a cat aspirant and was nt interested in job....but due to the weightage given to workex in i...
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then no need to worry THEY WILL NOT TRY TO CASH THAT CHEQUE
THEY WILL NOT CARE AT ALL
enjoy life


What makes you so sure about it?
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all such bonds are bull s#it..
Indian laws call any bond which is one-sided illegal
and no company i have heard of signs a two sided bond.. i.e. the company also has to pay you if they fire you before the bond period is over..


Regarding the orignal cheque problem.. zimple.. ask ur bank to block tht cheque givin the no..

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hi, i have an interview scheduled with perot systems.If selected they would ask me to sign a 2 year non negotiable service agreement ? can anybody shed light on a non negotiable service agreement? As iam interested in giving cat next year and am very keen to join a b school?

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Hi the_ruthless,
Plz tell me how to get the experience certificate and releiving leter. Plz........

Regards,
Ramalingeshwar

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Plumber Says
To the best of my knowledge, yeah the bonds which restrict your job-switching are illegal,ONLY to the extent that they prevent you from switching your job. I am not sure if the whole of contract/every aspect can be termed as illegal.

So the important question : Is it legal for them to ask you to pay the money if you switch your job?

It seems many people do switch their jobs...and get away without paying the amount.
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More than a few people I know have said, and some have consulted lawyers, that bonds of the nature being discussed are not valid in India.

Any thoughts on this claim? I am not aware of a ruling by any court of law on the issue.


To the best of my knowledge, yeah the bonds which restrict your job-switching are illegal,ONLY to the extent that they prevent you from switching your job. I am not sure if the whole of contract/every aspect can be termed as illegal.
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More than a few people I know have said, and some have consulted lawyers, that bonds of the nature being discussed are not valid in India.

Any thoughts on this claim? I am not aware of a ruling by any court of law on the issue.

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1. They may not try to recover the money since they've given all your certis etc back.
2. just to be sure...


Go to your bank. Tell them you want to cancel the cheque # xyz. If u don't remember the cheque number, tell them to dishonor all the cheques in your chequebook.
Another way is to never put so much money n your bank or better cancel your account in that bank. :p

3. The company won't be interested in suing u over such a small amt. (to them) (corporations are always trying to minimise their litigation costs)
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Just put a date of next month or something and get the frigging money out of that ac, as soon as possible. Do that quick man and tell us the good news soon.

And never sign such bonds where they actually ask you to put the money where the mouth is.

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catapult
@catapult  ·  1,270 karma
hi friends.....i'm new to pagalguy.....need help from you...here's my case:
iam a btech passout(2005)..from andhra pradesh...placed on campus ...
i am a cat aspirant and was nt interested in job....but due to the weightage given to workex in indian and foreign B- Skools,...i decided to take the job...
the job had a bond....for 3 yrs...and 2lakhs (for breaking it)....and they took an undated cheque..for 2 lakhs..they had the bond signed on a stamp paper...... ...
but the company wasnt a good one ( u can see that from the bond they had)... unluckily it was the first to come to my college and aftere getting selected here.... i was trapped as i had no more chances to sit for placement.....
the company always had me on bench ...or there was this neverending training programs...and they were paying nuts.....and no work was there to be done.....on bench all the way.....waititng for a non existent project to come......
finally i decided to move out...after 1 yr 5 months... and now iam in a new company...into a project....this new company has no bond ...now to get the work ex certificate ...i had to put a date on the cheque..... the ties with the old company are over now...they have given every thing (workex letter,relieving letter and all my certificates..)

i donot want to pay those 2 lakhs....
is there a way to get out?
i've already seen the old threads...but the bond was on company's letterhead and not on stamp paper.....also how to deal with the cheque.....
friends...i need your help...please give any such experiences....
thanks in advance........


If u do not want to pay 2 Lakhs...Follow these simple steps...
Go to your bank. Tell them you want to cancel the cheque # xyz. If u don't remember the cheque number, tell them to dishonor all the cheques in your chequebook.
Another way is to never put so much money n your bank or better cancel your account in that bank. :p

No offence..but WTH cudn't you ask ur cheque back when you got "evrything else" from them. First place..You should never have signed such silly bonds. 3 yrs ...Immediately after graduation...!!...U gotta be kidding! Sounds so stupid man!

God Bless you!
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