Mere issuance of Liquidation Notice before Master Directions does not negate Obligation to comply with Directions in Judgment: Kerala HC

The Kerala High Court clarified that the mere issuance of a liquidation notice before the Master Directions on Fair Practice Code for Debt Collection Practices by NBFCs does not negate the obligation to comply with the directions as interpreted in a previous judgment. The court emphasized that NBFCs are bound by the principles of fair debt collection practices, even if the liquidation notice was issued prior to the specific guidelines, especially as clarified by judicial pronouncements.