When you cancel a flight ticket, the ixigo money you earned while booking (on that particular transaction), will get deducted from your ixigo money account balance. So in case your account balance is zero at that time, the existing balance will become negative. The ixigo money you earn on your next transaction will be used to adjust the negative balance.
Your cancellation refund will be transferred to your ixigo money account and bank/wallet, etc. The refund break up will depend on the amount of ixigo money used at the time of making your booking. The amount, up to that paid with your ixigo money balance, will be refunded to you as ixigo money, the rest, if any will be transferred to your bank/wallet, etc.
For instance -You booked a flight ticket for Rs.4000 and paid Rs.2000 via ixigo money and Rs.2000 with your debit card. The refund is Rs.2500. You will receive Rs.2000 as ixigo money and Rs.500 will be transferred to your bank account. However, if the refund is Rs.1500, you will receive the entire amount as ixigo money.