Leaving Before a Year: Do I Owe the Joining Bonus I Haven't Received Yet?

I have to join a new organization. However, with the current organization, there was a joining bonus deal stated: Details of salary and benefits are outlined in annexure 1, which also reflects the overall Cost to the Company (CTC). The joining amount of Rs. XXXXX/- shall be paid after the completion of 1 year. The joining amount shall be recoverable in case you leave on or before 2 years from the date of joining. I have not yet completed 1 year in the organization, so I have not received the joining bonus. If I quit before 1 year, will I have to pay the amount even when I have not received it?

You will not be required to refund an amount that you have not received at all. To recover an amount, it has to be tendered by the First Party and received by the Second Party. If that has not happened, there is no question of recovering the money.