Never join in Small Companies with Bond Agreement

Yes, stuff like this is quite common in India, get some legal advice there must be a way out. Else if you stay there longer, it could effect your future development.

Without necessarily naming the firm... Are they desperate, or just clueless? Or are you the closest thing they have to the skill set they want, or is this maybe a stress test to see if you can scramble and rise to the occasion? First job as a fresh-out?

Sounds like a big gamble on someone's part. In any event, legal advice sounds like a solid piece of advice. Meantime, study like a fury, and maybe you can pull it off! Best Luck & Best Wishes!
'--O-o-O--'
I was SO relieved to find (years ago) that many of us feel like we've been faking it at the Peter-Principle level, and are about to be found out!