Dear Hr-Intellial,
You have two options, one is to grant him a "Leave Without Pay" and other is to turn down his application for the extension of leave.
If you wish to be considerate towards the eventuality that he is facing in his personal life and grant him leave, then possibly he could remain loyal to your company and he might serve for a long time in your company. However, it depends on his sense of his gratefulness. Will he remain grateful to your company is a point to moot. Nevertheless, he has threatened to resign and has started blaming the company also. This shows his haughtiness.
The second option is to follow a routine admin procedure. Turn down the application for the extension of leave. If he fails to report for his duties then send a reminder and still if he fails then terminate his services. The benefit of following this option is that it will send a signal to one and all and a few other employees will not come with a similar request of leave on compassionate grounds.
However, you have written that "In that case his bond also applicable". If the employee has joined recently and is on probation then where is the question of having a bond? If you have kept him on probation and have inserted a clause on lock-in period in the appointment letter then it is absolutely a one-sided contract and may not stand the scrutiny of law in the court.
Therefore, which option to exercise that choice is yours!
Taking a lesson from this incident, you need to create a guiding principle in your company stating "company interest first, then department's interest and then individual's interest". The guiding principle will guide the managers in taking the right decision and avoid the dilemma as you are facing in this case.
Thanks,
Dinesh Divekar