this term sheet. As I have observed in that order, it is a primary requirement of our justice system that a document cannot be used against an opponent without giving him an opportunity to deal with it. It is another matter that based on a confidential document with a third party, which is shared with the Court, a short time given to a party to enable it to arrive at a definitive agreement so as to resolve the disputes, which is what the Appellate Court initially did in the winding up petitions, but quite another to take a final decision on an appeal on the strength of such undisclosed, confidential document. Besides, as I have also noted in the admission order passed on the winding up petitions today, the term sheet has still not resulted into any definitive agreement till date, despite the Company having told the Appeal Court that within about ten days of 24 April 2015 ( on which date the term sheet was for the first time produced before the Appeal Court ) the Company would enter into a definitive agreement with the lender. The matter before the Appeal Court was adjourned thereafter on at least four occasions, but no definitive agreement was in sight. In the premises, finally by its order dated 3 August 2015 the Appeal Court observed that if by 14 August 2015, the agreement was not placed on record, all interim orders granted earlier would be vacated. The agreement was not only not placed before the Court by that date, but even today, whilst passing this order, there is no agreement entered into between the Company and its lender, and we are no better off than when the term sheet was for the first time produced before the Court. Whilst I was passing this order, I was told that there is now a final term sheet of 31 August 2015, whereby the financer would be able to provide upto Rs.170 crores by 31 October 2015, subject to execution of mutually acceptable documents and deeds. That means two things. Even now there is no definitive agreement, but a term sheet containing an offer to provide Rs.170 crores ' subject to execution of mutually acceptable documents' and even if this entire finance comes by the stipulated date, even the claims of debenture holders, for whose benefit this term sheet is said to be executed, are not likely to be satisfied. (The claims of debenture holders are admittedly over Rs.263 Crores.) There is still no concrete proposal to repay the matured deposits (as of the date of the CLB order ) of Rs.63.82 Crores. Neither is the name of the lender still disclosed to the parties nor is any provision of the term sheet placed on record. It would be a travesty of justice, if this Court,
