Please do not open more than one thread. As I understand, you were appointed by the Company purely on "probation". There are different ways of appointing the employees. No employer would directly appoint any person on "permanent basis" from day one. The employer, while appointing the candidate has also a right to test the overall performance, capability, integrity and such related values. The employee is confirmed on the post only after the successful completion of probationary period. The word "probation" is similar to "temporary". And, during the course of employment, if the employer comes to a conclusion that the services of the employee are not satisfactory, or upto the mark, the employer is perfectly justified in "terminating the services" and without "casting any stigma".
However, if you fall within the meaning of a "workman" and a Company under the "industry", and that if, you have continuously completed 240 days in a year, you have a right to ask for compensation in lieu of notice. If such notice and compensation, as provided under Section 25 (F) of the Industrial Disputes Act is not paid, it amounts to retrenchment. You can challenge the action by agitating the dispute under Section 10 (1) (c) of the Industrial Disputes Act. A case of N. Sundra Mony decided by Honourable the Supreme Court may be very much helpful to you.