As already clarified by respected elders, this is not a contract appointment. A condition that in case the candidate leaves before a period of two years then one has to pay Rs. 1 lakh cannot be stated to be an unconscionable term of employment as such a condition is neither prohibited by law nor is against public policy. Similar clauses exist in other organisations too, probably with a view to make the new employee commit oneself to a long career ahead. The employment contract was offered to you and you could either accept or reject, so it cannot be viewed as opposed to the provisions of Contract Act 1872. The post of Sr Manager/HR is a key post in any organisation and hence to impose such conditions is very critical for long term prospect of the organisation. But they could have made this condition clear beforehand, at least to a Senior HR professional.