Xiaomi India — Exchange Value not Provided

Address: The Xiaomi Technology India Pvt. Ltd. Building Orchid, Block E, Embassy Tech Village, Outer Ring Road, Devarabisanahalli, Bengaluru Karnataka–560103

Name : Bijay Kumar Jayaswal
MI ID : [protected]
Order ID : [protected]

The company sells mobile phones under two types of exchange schemes: Instant Exchange and Deferred Exchange through MI Store App.
Instant Exchange Scheme:-
The exchange value is adjusted upfront.
The old phone is taken back immediately at the time of delivery of new phone.
Deferred Exchange Scheme:-
The old phone is taken back 7 to 10 days after the delivery of the new phone.
The exchange value or cashback is promised to be provided after the old phone is collected.
Issue with the Deferred Exchange Scheme:-
The company takes the full value of the new phone initially.
They neither collect the old phone nor provide the promised cashback.
They give false reasons to avoid collecting the old phone and refuse to give the cashback.
In my case, they informed me that I did not choose the Exchange Coupon and therefore refused to pay my cashback. However, the Deferred Exchange Scheme does not have an option for an Exchange Coupon, which is only provided under the Instant Exchange Scheme to adjust the value upfront. However, under the Deferred Exchange Scheme, there is no option for an Exchange Coupon, which I can select. Now the company wand to escape to provide the exchange value after selling its mobile and find its' full value.