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(Querist)
24 January 2015 I just want to know that if principal has signed indeminty bond of his article for serving particular period of time after his articleship, then what are the powers of principal against him. however principal has already signed Form 108 and articleship completion letter has been issued to article clerk by ICAI. now if article will not serve period specified in bond then what would be the consequences? thanks in advance
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
24 January 2015 Obtaining bond for serving after article ship is illegal. If still insist for it inform the Institute. No need to serve after completion of article, no consequences for breaking the bond.
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