Yes, I have heard that there are many companies who adopt this practice. I think the utility is to keep the person on the hook, so that he does not run away after taking the employment. He has no means to object to this if he is in need of the job. He should always be careful to obtain proper receipt so that he can claim the document when needed.
Personally, I have not been in favour of this practice. No candidate would willingly like to part with his original documents. The organisation does not portray a good image by adopting this practice.
23rd May 2010 From India , Nagpur
10th August 2010 From India , Delhi
Hain na accha idea!!!!
16th December 2013 From India , Mumbai
8th January 2014 From India, Coimbatore