Bond transfer possibility between public sector bank and Public sector enterprises
I have joined the Public sector Bank (BOB) last month (July 2018) for the post of Manager /Credit Scale -II and am currently working under probation period . At the time of joining service bond of the amount of Rs. 1.5 lakh was executed to serve for a minimum period of three years. At present, I am selected for the post of Executive in other public sector undertaking -BPCL. My application for the aforesaid post is forwarded through proper channel and I have taken 'No Objection Certificate' also from my earlier employer.
Now In this situation, Can I enforce the bond transfer to Bank of Baroda to new employer for balance period of 2 years and 7 months as per Central government DPE (Dept of Public Enterprises) guide lines/rules.I came to know that Bond is transferable according to the central government DPE (Dept of Public Enterprises) guide lines/rules. I am quoting the ref: DPE/Guidelines/II(c)/29
Enforcement/transfer of bond in respect of employees of Public Enterprises who leave the services of one Undertaking to join another Undertaking/ Government.
The undersigned is directed to refer to this Department’s OMs No. BPE/GL-017/77/MAN/2(11)/75-BPE(GM-I) dated 13.6.1977 and 23.5.1981 and No. 17/20/84-GM dated 5.2.1985 on the subject mentioned above, which were deleted vide this Department’s O.M. No. 20(5)/95-DPE(GM) dated 10th December, 1997. After deletion of these guidelines, Department of Public Enterprises received references from various quarters for revival of these guidelines to enable them to regularize enforcement/ transfer of bond in the case of public sector employees joining services in Central Govt./State Govt./Autonomous Bodies. The position has been reviewed and after careful consideration, it has been decided to revive this Department’s OMs dated 13.6.1977, 23.5.1981 and 5.2.1985 with the following modifications:
(b) The terms of bond whereby an employee of a Central public enterprise receiving scientific and technical training out the expenses of the Govt./Public Sector Enterprises undertakes to repay this specified amount in the event of his failure to serve the enterprise for a stipulated period after completion of his training should not be enforced against an employee who leaves service of public enterprise to secure, with proper permission, employment under the Central Govt., a public enterprise or an autonomous body wholly or substantially owned/financed/controlled by the Central/State Govt. A fresh bond should be taken from the person concerned to ensure that he serves the new employer for the balance of the original period.