Section 4 in The Manipur Ceiling On Government Guarantees Act, 2004
4. Prohibition.
- Notwithstanding anything contained in any other law for the time being in force,-(a)No Government Guarantee shall be extended in respect of loan to any private individual institution or company;(b)No Government Guarantee shall be extended to the co-operative institutions or joint ventures with minority share holding (less than 50%) or no management control by the State Government.
