Myntra.com — regarding myntra credit fraud by myntra designs ltd.

I had placed an order for a fitness band, it got delivered but when i unboxed it, i found it to be defective as the screen was broken, i took immideate action and complained to myntra customer support the product was picked up and the refund was credited as myntra credit and not in bank account, again i am forced to purchase same product from myntra even though i am not satisfied, i can't redeem it, i can't transfer it to somebody else, so, please tell me the way how can i get refunded in bank account balance,
Regards,
Sarthak vatsa