I have been asked to take exit from the project I know it's appraisal time n I worked hard throughout the year, how should I proceed

When are you getting released

You cannot negotiate on this.. better to leave the project even though it's appraisal season. I would suggest you to get everything in writing from your PM. These pls don't have ethics during appraisal, all they need is to save their ass from fire.. Either you move on or exit from this unethical company..

Tcs is saying It's time you bid bye to us.
If you are getting released then its C band in appraisal.
Don't worry.
If you have worked hard definitely you will get another project in TCS or switch.