An organization asking me to pay the money as I failed to join that organization after accepting the offer letter,

Hi ,
I got an offer letter from so-called company, in offer letter they have mentioned that I should pay 1.5 lakh if I don't join that company after accepting the offer letter.
I have accepted the offer letter. But I didn't join that company. Now they are asking me to pay the sum otherwise they will send legal notice within 48 hours. What should I do,
Should I pay the money ?.
Thanks

Will they really send me legal notice ? Should I wait for notice? or Do I need to pay before I get notice ? Please help me out of this.

"I got offer from so called company"
Did you apply for any job and attend interview etc?
What is the meaning of so called company?
What post did you apply or get selected?
The information is incomplete to give answer.

Hi,
I had attended the interview over telephone. Later they had released me the offer letter.
Thanks

Dont worry.
They have no legal roight to demand any money from you.

Dear member,
You say that you got offer from "so-called" company. Do you know the meaning of phrase "so-called"? Meaning of this phrase is doubtful or suspect. Therefore, the question arises is when did you come to know that the company has doubtful activities?
In your post you have written that company had attached clause on reneging the commitment to join. It was payment of Rs 1.5 Lakh in case if you fail to join the company. However, question arises is how the offer letter was issued and how did you accept the offer letter. Have you been issued hard copy and while accepting the hard copy did you give acknowledgement also in the hard copy?
Further advice would depend on the question asked in the second paragraph.
Thanks,
Dinesh Divekar

Hello Sir,
Sorry for the wrong usage of the word "so-called ".
They had sent me the offer letter through the email. I took the print out of that and signed it. I had sent it via email. It was soft copy only not hard copy. Please let me know if you want to know more.

Hi,
You have said that you attended only a telephone interview and then the offer letter was sent via email. Please check the legality of the company from which you have received the offer. Demanding money for refusal to take up a job after accepting the offer letter is unheard of.
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Regards,
Sairam Bandi
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One should not accept such offer letters.
Legally , the Co can not claim damages.
Col.Rathi