regarding service bond transfer

paravastu vinutha (Querist) 02 August 2016 This query is : Resolved

Hello sir,
i am presently working as officer E1 level at iocl and exceuted a service bond of 3lakhs for 3 years..now i just completed one month in iocl and got offer from hpcl which applied before joining iocl interview of hpcl also happened before i joined iocl.now i want to transfer my bond to hpcl..but hpcl not accepting it as that company dont have any bond..pls tell a solution sir...as i completed only 1 month should i pay whole 3 lakh rupees.

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Dr J C Vashista (Expert) 03 August 2016
Explain the term "ioci" and "hpcl"?
Whether it is PSU or private sector?
Did you apply to "hpcl" through proper channel after seeking proper NOC?
"OICI" got their claim/bond intact, is it transferable???.

cherukuri prasad (Expert) 03 August 2016
service bond illegal. Don't worry

adv.bharat @ PUNE (Expert) 03 August 2016
Author need to explain the query raised by expert.

Kumar Doab (Expert) 03 August 2016
"but hpcl not accepting it as that company dont have any bond."

In such situation what is expected by you?

Don't use abbreviations.

paravastu vinutha (Querist) 03 August 2016
hello sir,
iocl means indian oil corporation and hpcl means hindustan petroleum..both are public sector undertakings...and i appeared for hpcl before joining iocl and even interview is before joining iocl so at that tym no need to submit noc as i did not join iocl then...but results of hpcl came now and hpcl is reluctant to accept bond transfer though it is a psu...what should i do? pls suggest me...

paravastu vinutha (Querist) 03 August 2016
pls reply my query...

Guest (Expert) 03 August 2016
No solution for quite insufficient information and facts that too about an academic query.

If you really have some problem, you may send through email copies of your offer/ appointment letters of both the companies for my examination and analysis to arrive at some conclusive opinion.

M V Gupta (Expert) 04 August 2016
Bond transfers generally prevail in Govt services and not in PSUs. apply to IOC to waive the bond as u are still in probation and not confirmed in their service. IOC may agree as presumably u have not undergone any training and the company has not incurred any expenditure on u for any training.U also will have to get relieving order from the IOC to join in the HPCL.

Dr J C Vashista (Expert) 04 August 2016
Consult a local prudent lawyer or contact and engage Sh. P S Dhingra ji, an very senior expert member of this club.
Show/send copy of relevant application, appointment, bond etc. for proper analyses and guidance/proceeding.

Kumar Doab (Expert) 04 August 2016
You had posted that:

""but hpcl not accepting it as that company dont have any bond."'

Now you have posted that:".but results of hpcl came now and hpcl is reluctant to accept bond transfer though it is a psu.'

Both are conflicting.

Mr. M.V.Gupta has made a suggestion.

Mr. P.S.Dhingra has offered to help.Send full details without conflicting statements.You can benefit from his counsel.

Rajendra K Goyal (Expert) 05 August 2016
Discuss full case with local service law expert. show him all related documents.

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