Gift 360 / Philips 5.1 Channel Home Theatre System — Materials not delivered upto 35 days but Credit Card Charged

ORDER NO:67449
DATE: 19/08/09
PRODUCT ORDERED:Phillips 5.1 channel home theatre system.
Credit card used: AXIS bank
Credit card Charged on:19/08/09 in the name of GIFT 360 BANGALORE with transaction ID 40371767

I had ordered for three nos of Phillips 5.1 channel home theatre system via order No 67449 on 19th Aug 2009. They had promised to deliver the product within 14 days. On completion of 14 days and on enquiry over telephone they confirmed that they will deliver within 15th of September without fail. On 16th they recommitted that the same will be delivered by 22nd September as because there was a shortage of stocks but they had managed to get hold of the stocks and they can now deliver the same without fail. The same was also confirmed by their team lead.
When today evening on (22nd Sep) on non delivery of consignments they confirmed their unability to deliver the product.
My querries are as belows
1. There is no clearity on how will my card be repaid?
2. Why is such a fraud company allowed to work in Indian market?
3. I am desperate to know what any authority will do to stop the working of such a fraud company?