DEAR ALL,
I WANT TO KNOW THAT WHAT WILL HAPPEN IF ANYBODY NOT IN A POSITION TO CONTINUE BANKING SERVICE (IN NATIONALIZED BANK.), AS PER THE APPOINTMENT LETTER IF ONE FAILS TO SERVE THE BANK FOR THREE YEARS, ACCORDING TO THE BOND THE CANDIDATE HAS TO PAY I LAC RUPEES TO THE BANK. Now as per Dept of Public Enterprises guideline the bond is transferable but the Bank says they are not covered by the guideline. In a case where one has been selected in a Govt Company / Govt orgn through proper procedure what is the remedy?
I WANT TO KNOW THAT WHAT WILL HAPPEN IF ANYBODY NOT IN A POSITION TO CONTINUE BANKING SERVICE (IN NATIONALIZED BANK.), AS PER THE APPOINTMENT LETTER IF ONE FAILS TO SERVE THE BANK FOR THREE YEARS, ACCORDING TO THE BOND THE CANDIDATE HAS TO PAY I LAC RUPEES TO THE BANK. Now as per Dept of Public Enterprises guideline the bond is transferable but the Bank says they are not covered by the guideline. In a case where one has been selected in a Govt Company / Govt orgn through proper procedure what is the remedy?
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Indemnity Bond - Format.doc
Bond in employment.pdf