Appeals dismissed; appellants deemed speculative investors; Section 7 IBC admissions set aside; Ordinance threshold requirement applied

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....The SC affirmed the NCLAT's conclusion that the appellants were speculative investors and upheld the orders setting aside admission of the Section 7 IBC applications, thereby denying initiation of CIRP at their instance. The Court further held the Ordinance/Amendment Act introducing threshold requirements for allottee-initiated Section 7 petitions is applicable to the facts and, to that extent, set aside the first impugned order. The appellants remain at liberty to pursue alternative remedies before appropriate fora; any such proceedings will not be barred by limitation. The appeals are disposed of accordingly.....