Hi I am Siju Mathew, and I am not a HR. I am bringing in a different dimension to this issue. It is a genuine query which I have come across with many people. To my knowledge and discussion with various people I found that signing up a bond in itself is illegal. The company can never take you to labour court if you are violating the contract which you sign as a bond. Secondly if the company holds your rights citing the bond then as a consumer and an employee you have all the rights to take the company to the court.