Are Employment Bonds the solution?

As has already been discussed in the forum in topics like ‘Bonds do not bond’ and they are just a ‘piece of paper’ for the person who has already made up his mind to quit, I also agree that bonds are not the solution for bringing down attrition in a company. Companies like TCS have bonds which require freshers joining the company to work for a minimum of two years before they can quit. This is done to recover the money they spend on their training. But this is also the reason why many good students avoid sitting for TCS during their placements in campuses. And then does this bond actually prevent people from quitting? Not at all. Many freshers quit every year and they do not even pay back the amount they are needed to pay TCS if they are breaking the bond. There are forums on the internet where people openly write that this is not enforceable in India ( as has been mentioned already in one of the blogs in this forum) and share their experience of how they have left their companies without paying the money they were required to pay. Yes, one way that these people are penalized are they are not given their Provident Fund money or any experience certificate and cannot work for TCS in future. But this is not what the company had wanted from the bond. So, is the company actually able to retain its employees through bonds?
Here, I will also give the example of Onmobile Global Ltd., Bangalore. This is the company I had worked for before coming here. Attrition in Onmobile is very low because they have ESOPS options for employees. You are entitled to get certain number of shares at face value but over a period of time. For instance, If you are entitled to 1000 shares, you will get 250 shares each every year. But you loose the rights to get the same if you quit before that. So, almost every employee wanted to stay on for a minimum of four years. So, I think incentives actually work better than bonds in bonding employees to the company.