Dear Saji,
It is not a question of your working in a central or state Government department. You were working in Central Public Sector Undertaking, which observes, besides the company law and other related provisions, all such rules based on the Central Government Rules, orders and instructions, as are routed through the Bureau of Public Enterprises (BPE). Had you applied through proper channel, you could well have saved yourself from the problem, as that would have been treated as the consent of the CPSU to transfer your services to the State Government on your selection.
Since all your actions were independent, without taking in to confidence of your organization, you are still bound to observe all the directives of your previous employer (CPSU) and clear all dues, including bond amount, before acceptance of your resignation. Clearance of all dues does not mean clearance of only notice period amount of the emoluments. Your bond agreement will certainly come before you as a hindrance, as that is kept in your main personal file with the HR Department of the CPSU Headquarter, not your local controlling office. Since your recruiting authority to the executive post was the CPSU, all clearance or no objection was mandatory for you to settle with the CPSU, not your local controlling office. Even if you have joined the new post, that can also be treated as illegal by the organization you have left.
So, one of the two alternatives left for you are:
Either
1) you clear pay the bond amount prorata to the remaining bond period; OR
2) Resign from the new post, formally withdraw your resignation to rejoin your previous post.
BUT, beware, 2nd one is more risky for the present, as acceptance of withdrawal of your resignation will still be at the discretion of the competent authority in the CPSU. The competent authority can still refuse to accept your withdrawal of resignation and also can refuse to rejoin you, as your case can still be treated as misconduct on your part against the organization's Conduct and Discipline Rules, having already joined another organization without taking no objection certificate or getting your resignation duly accepted before joining the new organization. CPSU can also treat you as absent from your duty without permission during all the intervening period, as another misconduct.
So, better, take necessary precautions to avoid any disciplinary action or remaining without any job.
PS Dhingra
Vigilance & Transformation Management Consultant
Dhingra Group of management & Educational Consultants
New Delhi