Xiaomi India — Mobile Phone caught fire and company refused to take any action

My phone Xiaomi 11 Lite NE 5G caught fire and got damaged. I am lucky that the phone didnt explode otherwise it may have risked mine and my family's life. As per Xiaomi this damage is out of warranty and they have refused to do any replacement or compensation.
They are saying that you can pay 70% amount if you want to purchase a new phone of the same model.