It's pretty clear that Apollo has no interest in doing the deal at any price. The Indians wanted to be big shots until the check was due. I don't think we are going to see a last minute deal. The best hope at this point is that CTB gets a breakup fee and another bidder buys the company.
If Apollo loses in US court they will probably just run back to India and ignore it. No Indian judge will enforce it.
Good catch on this story. Interesting development for the litigation. While CTB cannot force Apollo to sign the USW agreement pre-trial, it does demonstrate for the judge a deal is possible. Whether the agreement is reasonable will be for the judge to decide. However, CTB's experts will be able to discuss an actual agreement with the USW as opposed to a hypothetical agreement with the USW. At this point, it appears CTB's counsel is a few steps ahead of Apollo's counsel.