Indiamart - IndiaMART and it s seller scammed me

I recently made a purchase (**th September, ****) through IndiaMART.com using their "Pay with IndiaMART" or "IndiaMART Payment Protection" which provides ***% buyer protection to the customer. I was under the assumption that once I made the payment through their gateway the payment will be released to the seller only when the product is delivered to the buyer, in this case, me, but when I made the purchase using Pay with IndiaMART, using the link, the payment was automatically & instantly released to the seller without my knowledge or approval.

You can watch this YouTube video for reference: https://youtube.com/watch?v=FDv*Ooooi*U
Archived: https://web.archive.org/web/**************/https://www.youtube.com/watch?v=FDv*Ooooi*U

Now, the product I purchased was Toshiba U** Series TV for the amount of ₹**,*** and knowing the payment was automatically released to the seller & the seller is now trying to dupe me into selling counterfeit/fake product and later on, they said they do not have that product with them and continuously ignored my calls. The seller has not delivered the listed product or has provided the refund.

I contacted IndiaMART customer support for help regarding this and I even reminded them I made the purchase using their "Pay with IndiaMART" and it is clearly stated in their website FAQ under Buyer Account > ***% Payment protection,

"Q) What is covered under Payment Protection?
A) If you don’t get the product that you paid for, you can raise a dispute with IndiaMART support with supporting documents & PWIM transaction details and claim for a refund."

https://paywith.indiamart.com/help/
Archived: https://web.archive.org/web/**************/https://paywith.indiamart.com/help/#buyer

But IndiaMART customer support is not providing me with any help and told me that I should contact the seller if I needed a refund now. They even assured me that the product the seller team “Golden Eagle Enterprises” is genuine and I do not have to worry about anything because they are verified suppliers but I told them they are going to send me counterfeit product then the IndiaMART customer support told me if that were the case that I should contact their email team and they would take action against the seller and help me with a refund, but even after sending the email they have been * response so far and every time their customer support is giving different answers, some are saying the deal has been cancelled and I should receive the refund within ** hours, some are saying it will take * - ** days, some are saying it will take ** days and the others are saying that only the seller will be able to provide me refund and IndiaMART cannot help me regarding this.

You can see that IndiaMART has failed to provide me with any buyer protection,
*) Releasing the funds without my approval or knowledge / their system error.
*) Failure to provide me with any refund.

Later on, I was able to get through the seller from my *nd mobile number and they said that I will get my refund within ** to ** days because the payment was received through Toshiba Company, it honestly feels like they are lying because they didn’t even ask me where to sent the payment or didn’t even bother to ask me for my bank payment details & the buyer is just buying time to withdraw the money to their mule account before it's too late for me to do anything.

Helpful resources on Pay with IndiaMART:
https://paywith.indiamart.com/help/
https://help.indiamart.com/knowledge-base/security-measures-of-indiamart/
https://help.indiamart.com/knowledge-base/secure-payments/
https://www.youtube.com/watch?v=FDv*Ooooi*U