I really dont know how this company manages to have such HR practices in this day and age. The company makes joining employees sign a bond for a period of 3-4 years (bonded labour has been abolished in India-Bonded Labour System (Abolition) Act 1976). They give you an appointment letter which is on a stamp duty paper. Over and above this they also take a cheque of Rs3-4 lakhs as a guarantee from the employee. Which they renew every 5 months. If the employee tries to break the bond by resigning or leaving the company, Darashaw then banks the cheque. And takes it up as a criminal case against the employee.
The problem is that even if the employee does want to stick on with the company, the environment is not conducive for growth (especially in the broking and equity division). The management is very unprofessional- there is no hesitation in using abusive language, keep you very late at work, scaring the employee with termination of employment, threatening to bank the cheque even though the employee hasn’t broken the bond. The company also states in their contract that they will provide training and development which they do not and the mention of this is just a tactic of claiming the money from you.
I would never recommend a fresher or a person with work experience to join this company. And if you are joining please get the contract read by your lawyer.