Is there any law present in India, prohibiting attending interviews while you are on duty in other organisation?

No one can restrict you to attend interview & there is no law in India which can be used to pohibit you from attending interview.

A law or act would not state this clearly. However, these actions are unethical and will undoubtedly be viewed as misconduct. If management has the necessary evidence to prove the misconduct, has the power to take disciplinary action.

Yes.

Pay them more then present industry benchmarks. and appraise regularly.

Introspect your Org Culture frequently, remove toxins often,

There is no specific law in India that prohibits attending job interviews while working for another organization. However, the actions of an employee while on duty can impact their current employer, and some employers may have policies or contracts that prohibit employees from engaging in job searches or interviews during work hours.

It is always advisable to review your employment contract or company policy to determine if there are any restrictions on attending job interviews while on the job. Additionally, it's important to consider whether attending a job interview during work hours may negatively impact your performance or responsibilities at your current job. In general, it is best to be transparent with your current employer about your job search and to seek permission before taking time off for a job interview, if possible.