Can I Face Legal Trouble for Backing Out of a Job Offer Signed on Company Letterhead?

I'm currently in my notice period. Previously, I received an offer, but the company sent a document stating that I would join their organization after the notice period, or else I would need to pay 2 lakhs if not (not on a stamp paper, just their company letterhead), which I signed and sent back. Now, I have received another offer with higher compensation. If I choose not to join the organization I was previously offered, will they take any legal actions (I mean, is it possible as I didn't sign on a stamp paper)?

Even if it is signed on a stamp paper, the employer cannot take any legal action against an employee for leaving the company. It is true that the employer can demand training costs that were exclusively incurred on the employee. However, random training will not constitute exclusive training.

I didn't even join the organization. I just signed their document stating that I would join their organization, or else I would pay 2 lakh. However, I received a counteroffer with more compensation. Can you tell me if it is possible for them to proceed legally?

Hi, You had accepted an offer but are now not joining the company and planning to join another company. Not an issue. After accepting an offer, it is not necessary to join that employer. What is wrong is joining an organization and then leaving without providing any information, which is not legally right. An employer cannot demand 2 Lakhs just for not honoring the offer letter. Please ignore it. Legally, it will not be valid.

As suggested by Lakshmi Narayan, you may just ignore the paper signed by you. After all, there is no legal enforceability for a promise to pay Rs 2 lakhs without any consideration.