Dear Believer1,
Abandonment of employment has ramifications beyond the payment of gratuity also. After serving five years, it is advisable to acquire an unblemished service-cum-employment certificate. If you abandon the employment then your company will be forced to terminate your services. What if the company mentions the actual reason for your separation in the service-cum-employment certificate? With this kind of certificate, it could create difficulties in getting future jobs.
The via media is to put down the papers and have a smooth exit. At the same time start searching for a new job. A situation may arise wherein you could be without a job for a few weeks or even months. Nothing wrong per se. You can concoct some reason for being without a job. Though this route is also fraught with risk, it has lesser risk compared to what you plan to do.
Please note that in future when you apply for the position of VP or Director, you could be told to furnish employment details of all the previous jobs. Against this backdrop, if your current company confirms that you had abandoned the services then your candidature may be turned down. Therefore, please do not do a trade-off between short-term and long-term gains.
All the best!
Dinesh Divekar