Is My Company Bond Legal? Seeking Advice on Leaving for Higher Studies Before It Ends

Hi,

I have submitted a Rs. 100 bond for 2 years and 1 lakh, co-signed by two sureties, while joining the company. The company is registered in Maharashtra state, and I submitted the bond paper of U.P. I want to leave the company for higher studies two months before the completion of the bond period.

Questions:
- The bond, I believe, is one way, isn't it?
- Is a one-way bond legal in India?
- Isn't it mandatory to submit the bond from the same state, that too for a two-way bond?
- Can I go for long sick leaves and then resign? Could someone suggest something on this?

Thanks in advance.

Dear Friend,

The bond I believe is one way, isn't it?
Yes

Is a one-way bond legal in India?
Of course, not valid

Isn't it mandatory to submit a bond from the same state, especially for a two-way bond?
Not mandatory

Can I go for long sick leaves and then resign? Could someone suggest something on this?
Yes, please do that