Terminated without reason after two years of service in Bangalore, what are my rights?

I was suddenly terminated from my job in Bangalore after working there for two years. I did not receive any prior notice or severance pay, and they cited no reason for my dismissal. I feel this is highly unfair and possibly illegal. I am worried about my financial future and want to know my rights. Can I challenge this termination as per Indian labor law, and what compensation can I claim?