the company cannot go directly to the court ,it should serve a notice and other process.
go through the agreement and find out the clause.
Advocate will help you out.
Bonded labour is not permitted under Indian Law and any act by the employer will deemed to be considered as an offence under Bonded Labour Act. It is only training bond, where employer has got right to excercise power and can compel the employee to serve minimum tenure with them as agreed upon or else to pay an amount equivalent to the training cost incurred by them. This training bond contract is enforceable in the court of law and all such amount is recoverable from the employee if terms & conditions previously agreed upon are not complied with by the employee.
From your querry , it does not look like a training bond, so nothing to worry off , you may dis-continue at your own accord. If the employers ask for any recovery get it documented and ask them to send it through RPAD. On receipt of any such document , you may file a legal suit stating that employer is coercing to work under shelter of bonded labour act.
As per the legal terms, once you have signed the bond means you have accepted their terms and conditions incorporated in the Bond and you are bound to it.
If you have copy of the bond, please take advise of an expert lawyer.
If the bond is not registered under law, then it is only an agreement between you and the company, either one can break this agreement with mutual understand.
So seeking an settlement out of court is advisable, safe and off the records.
Every day (almost) we see this king of post. Especially the new freshers and the new joiners must be careful while signing any such kind of documents, and one must take a expert's advise before signing such type/unlawful bonds.