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sir/mam, i wish to say that i joined in a psu bank as officer. i have given an indemnity bond that i will work for that bank for years. if i breach it i have to pay rs. 100000. due to my health reason i resigned the post. i have not enjoyed any monetary benefits, even my training stipend and salary. will the bond a vaild one? i equest that i query may please be resolved.
From India, Pondicherry
pca
1444

As per Sec.27 of Indian Contract Act such a contract is not valid. Pl. refer attached article in this regard.
From India, Malappuram
Attached Files (Download Requires Membership)
File Type: pdf Negative Covenant in Contract of Employment.pdf (108.5 KB, 243 views)

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