Now if the bond is for two years the company has a right to not leave you before completion of 2 years.
Alternatively, the right to employment confers every citizen to work anywhere in India, hence you are not bound by such bond which shall be construed as bonded labour. Nevertheless, if you leave you current job your employer may not issue you your releaving letter before the expiry of 2 years and your employer can also issue to you a notice for payment of the bond. You can contest the bond by taking your current employer to the relevant district courts and it is then you may take a plea that the bond amount of 10 lakh was not justified as the company did not invest 10 lakh on you.
I understand that you will be getting good offers after your international training, but I would recommend that it would be feasible if you quit the company just after the expiry of 2 years. In the mean time try to befriend your spervisor (by calling him/her for a coffee, chating, spending more time) so that he/she can increase your salary which shall be a good bet for you to negociate in future after the completion of 2 years bond period.
17th June 2011 From India , Delhi
I disagree with one of our friend suggestion that the agreement with your present employer will not have any effect over your prospects if you breach the terms of such agreement. Morally you have to honor the terms and conditions of an agreement why because, you are telling that your company has sent you to abroad for internship and you should work with them for 2 yrs thereafter.
Here the valid consideration is there in the agreement entered in between you and your company. To send you to abroad for study and to meet the expenses in connection with such education is the proposal and in return they asked you to serve them for 2 years. under those circumstances where is the question for bonded labor etc.
Being a highly educated, one should honor the promise made to the other by way of an agreement or other wise be ready to face the consequences through civil court for breach of the terms and conditions of an agreement. I strongly suggest that you should settle the case amicably with your present employer by paying amount which is agreeable mutually enabling you to skip the unnecessary litigation through process of the law.
12th September 2011 From India , Nellore