In my opinion choose " resign at will" and join another company which suits your work ethic.
Moreover in India, employment bond is valid and legal under certain limits.
Though it seems that unaffair treatment is done to you but its only one side of the story. If you are going for legal action against the organization you need more valid proof.
Section 15, Indian contact act 1872, coercion as a crime.
Article 19, 23 of Indian Constitution
From India, Bhubaneswar