indemnity bond

priya (Querist) 01 February 2011 This query is : Resolved
Can any one please help me.I am a doctor.
I got my degree in 2001.

That time we had to sign a bond during the admission.I had served for 1 year.

now after 10 years i got a letter from the college that i need to pay 1lac.i am not unable to pay this amount.

can anyone please suggest me.is there any exemption from this.

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A V Vishal (Expert) 01 February 2011
Ignore the letter, the college cannot legally recover the amount from you.

Devajyoti Barman (Expert) 01 February 2011
The terms of the said Bond and the letter needs to be looked into to see whether the letter sent by the College has got any basis or not.

Advocate Bhartesh goyal (Expert) 02 February 2011
Yes, the college can not legally recover the amount from you as it is time barred.

Guest (Expert) 02 February 2011
Hi Priya,
Unless you explain the purpose of indemnity bond you signed with the college and the reason quoted by the college for asking you to pay the amount of 1 lakh, any advice rendered on guess basis would be futile for you. So, please clarify these points first.

PS Dhingra
Chief Executive Officer
Dhingra Group of Management & Vigilance Consultants
New Delhi-110089
Mobile: 09968076381
[dcgroup1962@gmail.com]

M.Sheik Mohammed Ali (Expert) 02 February 2011
time expired, max 3yrs

Ashok Yadav (Expert) 02 February 2011
First of all we will have to read the terms and conditions of Indemnity bond to suggest properly.

1. If you have not served they can not recover it because the amount is time barred.
2. If you have served for one year they can not recover legally.

As per my view ignore the notice completely, and let them to take further legal action if any is available there.

Advocate. Arunagiri (Expert) 02 February 2011
Even if the agreement contents are legaly enforceable, the time is barred for claiming compensation. Just ignore the notice.

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