Regarding Bond

Hello sir, myself Krishnakant, I work in PSU company Steel Authority of India (SAIL). Prior to joining SAIL I was pursuing my M.Tech from IIT Bombay and completed 1st yr and took a one and half year extension from IIT Bombay so that I can finish my course in future. Now after working one and half year in the company I have been granted 1 year EOL(Extra Ordinary Leave) from the company but for that I signed a bond with the company. According to which after completion of M.Tech I have to serve the company with min. 4 yrs or have to pay the company an amount equivalent to 4 months salary. Now the problem is that I had appeared for an examination (Gazetted Post of Govt. of India) which result has recently been declared and I want to join that post. For that I need the relieving certificate from the previous company (SAIL). As it's been only 20 days since I have joined IIT Bombay, So is it possible to get the relieving certificate without paying the bond. Somebody told me that I can't resign while on study leave. Is he right? Under what condition is it possible for me to resign?