Articles On Legality Of Service Bonds - PDF Download

Dear friends, I am attaching various articles on legality of service bonds for your information. Regards,
3rd September 2008 From India, Malappuram

Attached Files (Download Requires Membership)

Restrain clauses.pdf (116.9 KB, 905 views)

Employment terms.pdf (106.3 KB, 821 views)

Negative terms.pdf (139.5 KB, 556 views)

Negative Covenant in Contract of Employment.pdf (108.5 KB, 497 views)

I do want to leave a job and there is no onjod bond. However at the time of leaving, the company is asking for a bond states no association with competetors for one year or rs. 5 lacs penalty. If i am not giving the bond, i was told I would not be releived.
I was given a car by the company and there is a contract signed by me with the company that, if I leave the company before 4 years, I should pay back the book value of the car to get the car and i cannot return the car to campany.
In this context, if I am not giving the bond and hence if I am not being relieved, what should I do with the car. The car is registered in the company name.
Should I hold the car or to leave it with the company.
How to proceed if I am not being releived.
please advice
SANIL
9th February 2010 From India, Madurai