Can I join a new company during notice period?
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No, that is not okay.
Read your offer letter again; there is one condition that states you cannot work full-time for another company.
If your firm finds out, as they will ultimately do, you will be fired on the moment because you breached the contract.
And, because your employment dates will overlap due to your relieving letters, your future employers will be aware of what you did and may decline to hire you.