Job Redundancy & Compensation

Background: The company in question embarked upon an IT restructuring plan globally, I headed a function at one of the Indian offices. As part of the arrangement, services were to be outsourced with an option to transfer staff to the 3rd party. Initially around Feb '16, I was informed that the change will not impact me/my position and I have to assist in the transition. Later, over a phone call by the senior IT leadership, I was informed that I would also need to participate in the 3rd party interview engagement for possible transition. Interviews were arranged with the 3rd party within our office; the said 3rd party were optimistic of accepting me as a staff and sought support with transition. No feedback was offered in the interim. Suddenly, on a fateful day of May '16, I was called in for a meeting with the local business head, IT Leader, and HR representative. During a 15 minute session, I was informed I was not successful in the 3rd party transition arrangement and hence I had two options: Resign or accept Redundancy. In either case, I would be offered 2 months notice pay however the contents of the relieving letters would differ based on the choice. On moral grounds, I accepted redundancy and within 2 hours I had lost my identity. When I informed my colleagues about the incident, few suggested I should approach a Labour court and fight for my rights. Based on above description, can I seek guidance as to applicability of labour/employment laws of India and possible remedies I can seek including higher redundancy pay (6-12m) as against a normal notice pay offered. For the level of position I held, it is not easy securing a new job immediately and it is already 3 months now. I shall be grateful for the guidance and help offered towards fight for my rights.