Employment Bond/ Agreement for granting permission for PhD

My wife is working in Eng. college as Asso. Professor from last 24+ years. She took college permission to pursue PhD in 2013. She completed and submitted her PhD in 2018 and defense is pending. Now college is asking to furnish an agreement on Rs. 100 stamp paper for serving the college for 5 years after completing PhD or pay an amount of Rs. 15 lakh in case she leaves earlier than 5 years. While giving permission, no conditions or bonds were attached. She has not taken a single leave for pursuing PhD and taken full college load also. College has not suffered any loss or its functioning is not affected. Few other of her colleagues, who also pursued PhD that time with her and availed leave from college or less lecture load, were asked to furnish a bond of Rs. 2 lakh (in 2014 or so). My question is whether my wife is required to fill the bond now and that too for 15 lakh? In case, she fills the bond, what are the repercussions if she leaves the job before completing 5 years?