Authority to prosecute deposit invitation offences: designated non banking companies officers empowered to take action under Companies Act provisions.
The Central Government authorises Chief Officer, Deputy Chief Officer and Assistant Chief Officers attached to the Department of Non Banking Companies as competent authorities to take action for the offence punishable under the Companies Act provision addressing invitations to deposit without advertisement.

Public financial institution designation under section 4A: Government specifies named institutions as public financial institutions.
Central Government, under sub section (2) of section 4A of the Companies Act, 1956, specifies by notification S.O. 1329 (as amended) a list of named entities - including nationalised insurance corporations, development banks, housing and rural finance institutions, state financial corporations and companies formed under the Companies Act - to be public financial institutions for purposes of the Companies Act, 1956.

Government company exemption from section 370, subject to prior government approval before loans, guarantees or securities.
Where the entire paid up capital of a company is held by the Central Government and its nominees or by a State Government and its nominees, section 370 shall not apply to that Government company; provided that such company must obtain the approval of the Central Government or the State Government, as the case may be, before making any loan or giving any guarantee or providing any security.

Substitution of judicial forum alters Companies Act procedures for government companies, shifting disputes to administrative control.
The notification directs that specified Companies Act provisions apply to government companies with substitutions: the term Court (and where applicable High Court) is to be read as the Central Government, and a particular subordinate paragraph of the reorganisation provision is omitted, converting judicial references into administrative determinations for government companies.

Application of Companies Act provisions to a government company: Central Government substituted for Court under notification.
The Central Government directed that specified Companies Act provisions concerning meetings, resolutions and schemes of arrangement shall apply to National Instruments Limited, Calcutta, with the modification that wherever the word "Court" occurs in those provisions it shall be substituted by Central Government.

Modification of Companies Act provisions: director appointment and retirement rules rendered inapplicable to wholly government owned companies.
Central Government notification exempts companies wholly owned by the Central Government and/or State Governments from the Companies Act provisions governing appointment and retirement of directors, directing that those provisions shall not apply to such government companies and thereby modifying statutory applicability for that class of entities.

Exemption for Government companies: specified Companies Act provisions declared inapplicable, modifying disclosure and director appointment rules.
Central Government, under section 620(1)(a) of the Companies Act, 1956, notified that specified sections shall not apply to Government companies: Section 187C on disclosure of beneficial interest in shares (GSR 232); Sections 198, 259, 268, 269, 309, 310, 311, 387 and 388 concerning appointment and remuneration of managing/whole time directors and managers (GSR 235); and the proviso to sub section (1) of Section 297 requiring prior Central Government approval for contracts between Government companies (GSR 233).