Breaking of Non Transferable scrip (SFIS) into smaller denominations

[N SURESH]

Dear sirs

We have 2 non transferable scrips (SFIS) of very high denomination. Can this be broken into smaller denominations. For example, if the scrip is 1 crore, can this be broken into ₹ 10 lacs each

Rgds

n suresh

AI Summary

Non-transferable SFIS scrips can be broken into smaller denominations at the same port per Handbook of Procedures. A user inquired about breaking non-transferable SFIS scrips of high denomination into smaller denominations, such as dividing a 1 crore scrip into 10 lakh portions. Three responses were provided. One contributor believed it was possible and sought expert opinions. Another explained that for exports or services rendered before a policy notification, the prevailing policy at the time of export applies, and suggested consulting a SEIS/MEIS Scrip Broker. The final response confirmed it is allowed at the same port, referencing a specific paragraph from the Handbook of Procedures.