Consumer Redressal

I have bought from iWorld speaker with cable for my ipod nano. Less than 24 hours of purchase, I requested iWorld in Ambiance Mall, Gurgaon to take this product back as it was not able to catch a radio signal. I was willing to buy another better product in exchange. They said it is not allowed in anyway to return the product. I believe that a customer must be satisfied once buying from a shop and then checking in her home. As it did not perform well in my home, I needed to see a more suitable product. The company will not listen and says it is their own policy not to exchange or refund any goods once leaving the store. i wish to challenge this rule that the company has made up it self. Also, they did not point this out to me that they will not change or exchange this product on purchase.