Your facts indicate the case of unlawful termination. Kindly note, for private employees (who do not fall under the category of workman), in their employment agreement, there is a clause which gives the Company a right to terminate employment without any notice period. However, there is a procedure for it which includes relieving letter, settlement of all dues etc.
There are several case laws upheld by Supreme Court and various High Courts, where even the Company having the power of immediate termination of employment, the procedure used by the Company has been held illegal and liable for unlawful termination as they failed to comply with certain general legal principle of law and exit procedure of the employee. A detailed analysis of your employment letter, exit policy of the Company and other facts should be analyzed. Therefore, it’s advisable to connect with any good lawyer and raise the issue of unlawful termination and other suitable claims against the Company.