Section 4 in The Karnataka Ceiling On Government Guarantees Act, 1999
4. Prohibition.
- Notwithstanding anything contained in any other Act,-(1)no Government guarantee shall be given in respect of a loan of any private individual, institution or company;(2)no Government guarantee shall be extended to the Co-operation sector unless the share capital contribution from the non-Government sources is not less than the ten percent of the total equity proposed.
