There's probably something in the terms about it, and it would take a very expensive legal battle to settle it. And I doubt it has enough legal merit to be taken on as a class-action lawsuit.
So, really, does it matter if it's illegal? With the asymmetrical power imbalance, they literally don't need to care about the laws. Realistically, no EU regulator is going to fine them for cancelling "a purchase made in India", either.