Notice Period And Relieving Letter

Hi ,
I work in small domestic IT company. My appointment letter states notice period of 30 days. I am serving the notice period and also working on assigned tasks. However now they are asking me to sign a new contract which states that there will be notice period of 60 days. I want to know whether I am obliged to sign this document ? Secondly if I dont sign it what consequences can be there ? Also I would like to know after completion of my notice period can the halt my relieving process ?

Logically speaking you are already on notice period,why company should ask you to sign a document which says 60 days.Meet HR and decline to sign such documents.

Dear Friend,
As informed by Mr Rao, you need not sign on new contract which stipulates the notice period of 60 days. Since you are serving notice period of 30 days and it is to be completed by 30th day from the date of giving the notice to management, you can inform HR department that you should be relived from the services of present employer with full and final settlement on the lapse of 30th day.
If they insist you to sign new contract, you will be in trouble and in such a case you need to complete 60 days notice period. The management cannot alter the service conditions arbitrarily which are mentioned in your original appointment letter without your consent and as such it is legally not valid at all