Applicability of Surety Bond while leaving from the services of PSU?

I M Rama Rao, employed in a PSU which recently got privatized. While joining in the organisation, self executed a service bond for an amount of Rs.2,00,000/- to work atleast 5years from the period of joining. As the company is a PSU, self executed bond to serve for the company as they wanted. Self served for the company for a period of 4years and 9months, meanwhile company got privatized and self searched for other job and got appointed in a reputed PSU, which was not objected from the previous employer too. For relieving from the services of the old organisation, they insisting me to pay bond amount of Rs.2,00,000/-. Kindly suggest 1) Whether I need to pay bond amount to the organisation as the company got privatized? 2) If so, whether there will be applicability of prorate basis, since self served the organisation for a period of 4years and 9months? Thank you.