Dear Asreet, Yes, it has legal consequences if the employer wants to drag it out to create hindrances. The acceptance of the offer means you give your consent to the matter offered and is not ethical. You should send an email to ICICI Bank, stating your denial to join due to personal problems. It is not clear from your post why you accepted the offer and are now denying it. It's an offer only, and it is up to you whether you choose to join or not. If you are not joining them, it's not illegal, but definitely not ethical. Therefore, you are requested to maintain decency in your actions for future reference. Thank you.