Dear Aspirant,

From a pure business perspective speaking in the language of contracts: They made you an offer and you accepted. Thus becomes an enforceable contract.  Usually in such contracts they will specific a window (date) by which you can opt out and if you did not do it within the specified date then the contract is binding on both parties.  Ideally it should have been given in writing to avoid any ambiguity in the adherence to the rules.

Please read the prospects very carefully and check if there such a date mentioned for withdrawal.  If there is a date mentioned, and if you did not avail of that window then it is certainly a default on your part.  If there is no date mentioned then from a consumer point of view, this contract is one sided and it can be contested in a consumer court – like the Ombudsmen in your area.

Good Luck