Paytm- Did not refund my money.

My order number is 675752634.
I had cancelled this order on 4-Dec-2014 but its now over 16 days that I have not received my refund.
Whenever I write to paytm about it the only reply that I get is the product was already shipped and the refund will be processed once the product reaches back to their merchant. Its true that the product was shipped I refused the order when it came to my place but still my refund was not processed. When i wrote to paytm, they said that they know that i have refused the order on 6-dec-14 when it came to my place but once it reaches back to the merchant i will get my refund. How ridiculous is that now its more than 10 days from the date that i have refused the order but still it has not reached at their place.
I want my refund immediately.