Bond Executed for Higher Studies

Dear Sir,

On 16 September 2004, I have joined for M.Tech course in an Engineering College as a management quota candidate and paid the necessary fees. Then on 27th September 2004, I have been offered Lecturer's job in the College and joined. In the appointment letter there was no mention of any bond or sponsoring for higher studies. During the first semester of M.Tech studies, I have paid all fees of my studies. In March 2005, they have orally asked me to execute a service bond aggreeing to serve the college for minimum of 3 years after the completion of M.Tech or have to pay the 3 years salary calculated at the rate of last salary drawn. I have declined for this. But in April they have held up my salary stating that I have to give the bond. As my salary was not paid and I have no other income to feed my family, I have executed the bond. Then they have paid my salary through Cheque. I have paid all expenses of my M.Tech programme and during the tenure of my studies, I have worked as lecturer and performed all duties assigned to me.

Now my kind request you yo clarify whether the said bond executed by me is valid. My total service to the college is about 4.5 years and completed 2.5 years of bond period also. I have got very good opportunity and continue my further studies in another college. If I resign now, will I am be required to pay the penalties as mentioned in the bond? Kindly suggest.