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Dear friends, I am attaching various articles on legality of service bonds for your information. Regards,

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File Type: pdf Restrain clauses.pdf (116.9 KB, 885 views)
File Type: pdf Employment terms.pdf (106.3 KB, 783 views)
File Type: pdf Negative terms.pdf (139.5 KB, 537 views)
File Type: pdf Negative Covenant in Contract of Employment.pdf (108.5 KB, 481 views)

I do want to leave a job and there is no onjod bond. However at the time of leaving, the company is asking for a bond states no association with competetors for one year or rs. 5 lacs penalty. If i am not giving the bond, i was told I would not be releived.
I was given a car by the company and there is a contract signed by me with the company that, if I leave the company before 4 years, I should pay back the book value of the car to get the car and i cannot return the car to campany.
In this context, if I am not giving the bond and hence if I am not being relieved, what should I do with the car. The car is registered in the company name.
Should I hold the car or to leave it with the company.
How to proceed if I am not being releived.
please advice

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