Sir,
I joined a Central PSU seven year back. According to the service bond, I had to serve the organisation for a minimum period of three year. Otherwise I had to refund to the company my salary and other expenses incurred by company during training subject to a maximum of three lakh. As I resigned within six month, company made a claim after two years of 1 lakh rupees with interest which I did not pay. One of my fried was surety for the service bond.
Company sent legal notice sent both to both of us through her lawyer. After that both of us received court notice. As my fried was living outside India, I hired a lawyer who appeared in the court on my behalf. Court sent reminder notice to my friend. The notice sent though post and through a messenger was not received by my friend as he was not available in India.
After several hearing, the company sent information through my lawyer to compromise/ negotiation and told me to deposit principal amount of one lakh without interest which I accepted as per advice of my lawyer. Thereafter I appeared in court in person alongwith my lawyer and signed some court document for compromise (Me, my lawyer and company representative signed the document). I told the company representative that I would be able to deposit money only after six months as i have some other financial burden to discharge. Company representative told me that he would take his management approval and then will call me to sign agreement for payment.
Now, I have received call through my lawyer to come in person and sign the compromise document / agreement for depositing one lakh without interest within six month from the date on which I signed document in court requesting for compromise.
I still feel that demand of the company is not ethical and is exploiting my situation.
My dilemma is what will happen if I do not sign the compromise document now OR If I sign the document and do not pay the amount on due date. Will this document be treated as a fresh contract between me and company? Kindly advise sir.
