The course of action available to you would depend entirely on your Appointment Letter - specifically wrt the Period of Probation and/or Notice defined therein.
Specifically, any Company has the right of termination - without Notice or Reason, in the Period of Probation, which is normally of 6 months in most Appointment Letters. If that's the case with you, you don't even have any legal grounds to proceed.
The biggest risk of any proceeding against the Company is that it may be reflected in your Relieving Letter, and as such will become a part of your permanent employment record - unless the rewards of any action are expected to be substantial, you're better of letting the matter go.
Hope this helps ....
Jayant Tewari
Out-Sourced CFO, Bangalore