Breaking the bond

Dear sir, I Have joined a company and i went for one day but i didnot like that company and so i left. There is a bond/service agreement for 2 yrs and i have signed but they said they will give one week time to sign hemselves for the bond and so i left.My query is in future if they sign and ask for the amount? The bond is as below Agreement Articles of Agreement Made at Pune, Maharashtra, ON this………….day of ……………………..Two Thousand and Fifteen (…………….2015) Between M/S Data64, having its Registered office at 4th Floor, Prabhavee Tech Park , Baner Road, Pune – 16, (hereinafter referred to as “the COMPANY”) and represented by its Manager (HR/FIST/IMD) of the FIRST PART. AND Mt./Ms………………………………………………………………………………….. Residing at …………………………………… …………………………………… ………………………………………………………………………………………… And having permanent address at ………………………………………………………………………………………… ………………………………………………………………………………………… (Hereinafter referred to as “the CONSULTANT”) of the SECOND PART. AND Sri……………………………………………………..son/daughter of……………… ………………………………………..resident of …………………………………….. ………………………………………………………………………………………….. (Hereinafter called the “SURETY”) of the THIRD PART. The expressions shall unless excluded by or repugnant to the context be deemed to include their successors, executers, legal representatives, administrators and assigns. Whereas the Company is engaged in the business of Cyber Crime Investigation, Consulting and Training and the Consultant has offered to take up employment with the company and undertaken to serve the company for a minimum period of One year, after completion of Domain Training of Eight Months. And whereas the expertise and effective use of high technologies and intricacies of acquisition and adoption of expertise knowledge can be acquired mainly through training and experience. And whereas, the training and induction process involves considerable expenditure both direct and indirect, financial and unliquidated, related to faculty, computer time, support facilities, stipend / remuneration to the Consultant, while under-going domain training, etc. and induction and replacement cost. And whereas the training is of duration of eight months and is liable to be extended at the discretion of the company. And whereas, the training and orientation process substantially improves the Consultant’s professional standing and it has been imparted by the company at considerable expenditure as an investment and the company expects a commitment (elaborated below) from the consultants and the surety to recover its expenditure and / or seek liquidated damages for non-fulfilment of the terms and conditions of this agreement by the Consultant. And whereas, the third party / Surety having satisfied that the Consultant is going to be imparted Training and Knowledge in Computer Applications in the establishment of the First Part / Company has agreed to stand as a Surety on behalf of the Second Party / Consultant about due performance of the obligations by the employee under this agreement. Now this agreement witnessed as under:- 1. The Company agrees to engage the Consultant on probationary basis and extent training initially for a period of Eight months and the duration of training may be extended at the discretion of the company. 2. During the first eight months of employment, the consultant will be paid an all-inclusive consolidated remuneration of Rs. ………………(Rupees Only) per annum (payable monthly) 3. The consultant undertakes to undergo the domain training for a period of eight months and for any further extended period of training and thereafter, serve the company for a minimum period of one year from the date of appointment in the regular services of the company. The consultant further undertakes not to leave the services of the company either during the training period and / or during the contractual service period of one year and not to take up employment with any other person, firm or company during the said period. The consultant is giving this Undertaking in view of the considerable expenditure incurred by the Company on him imparting training / induction. 4. (a) The consultant agrees that in the event of breach of any of the terms and conditions of this agreement or the employment conditions as articulated in the Letter of Intent, of which the company shall be sole judge, and / or if the consultant fails to serve the company for a minimum period of one year from the date of engagement as a permanent employee, the Consultant shall be liable to pay liquidated damages as penalty for breach of contract, as follows :- (i) Rs.84,000/- (Rupees Eighty Four Thousand only), if the consultant were to leave the employment during the period of training. (ii) Rs. 1,68,000/- (Rupees One Lac Sixty Eight Thousand only) if the consultant fails to take up regular employment after completion of training and / or leaves the services of the company before completion of the minimum period of one year service from the date of engagement in the regular employment. (b) The consultant will also have to deposit his Passport, Final Degree and all Transcripts as surety. (c) The Company may pay suitable retention bonus at its sole discretion based on the performance of the consultant and the company at the end of one year from the date of permanent employment. 5. The consultant undertakes not to divulge or make public without the consent of the Director of the company any information regarding the Company’s affairs or administration or research carried out or secrets whether the same may be confided to the consultant or become known to the consultant in the course of his training / service period or other-wise. 6. The consultant undertakes to fully communicate to the company any new or advanced methods of improving process/formulae/systems in relation to the operations of the company conceived by him or which has come to his knowledge and such information / matters will remain the sole property / right of the company. 7. It is agreed between with the parties that the Company at its discretion could relieve the Consultant from the regular employment of the company by giving one month’s notice or payment in lieu of notice in which case the employee will be relieved of his obligations under this agreement. 8. On termination of employment, the consultant will immediately make available to the company all correspondence, specifications, formulae, books, documents, market data, cost data, literature, drawings, records, etc., belonging to the Company or relating to its business and shall not make or retain any copies of those items in Soft or hard copy format. 9. The Consultant and the surety jointly and severally hold themselves responsible for payment of the liquidated damages for breach of contract and/or failure on the part of the Consultant to ensure due performance of his / her obligations under this agreement. 10. In the event of any dispute or disagreement over the interpretation of any of the terms herein above contained or any claim, or liability of any part, the same shall be referred for arbitration to a person to be nominated by the company, whose decision shall be final and binding upon the parties hereto. Such reference shall be deemed to be a submission to arbitration under the provisions of the Arbitration and Conciliation Act, 1996 or any other enactment whereof. The venue of arbitrations shall be Pune, Maharashtra. The Court in Pune shall have exclusive jurisdiction to the exclusion of all other courts. IN WITNESS WHEREOF THE PARTIES HEREUNTO HAVE EXECUTED THESE PRESENTS THE DAY, MONTH AND YEAR FIRST ABOVE MENTIONED. Signed by……………………………………. Signature of the first part/Company In the Presence Of 1. (Signature, Name & Address) Signed by…………………………………… Signature of the Second Part/Employee In the Presence Of 1. (Signature, Name & Address) Signed by…………………………………… Signature of the Second Part/Employee In the Presence Of 1. (Signature, Name & Address) Signed by…………………………………… Signature of the Third Party/Surety In the Presence Of 1. (Signature, Name & Address) Signed by……………………………………