Breaking of Non Transferable scrip (SFIS) into smaller denominations

[Asked by Guest]

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

[DR.MARIAPPAN GOVINDARAJAN]

In my view it can be down. However the views of the experts are invited in this regard.

[Kishan Barai]

For the goods exported or services rendered upto the date of notification of this Policy, which were otherwise eligible for issuance of scrips under erstwhile Chapter 3 of the earlier Foreign Trade Policy and scrip is applied / issued on or after notification of this Policy against such export of goods or services rendered, the then prevailing policy and procedure regarding eligibility, entitlement, transferability, usage of scrip and any other condition in force at the time of export of goods or rendering of the services, shall be applicable to such scrips.

Yes, definitely it could be broken into parts. I suggest you to take the help of SEIS /MEIS Scrip Broker for scrip selling.

[Nash Industries I Pvt Ltd]

Allowed in the same port. Refer para 3.09 (b) of HBP.

Regards

S.Ramaswamy

AI Summary

Non-transferable scrip denomination splitting permitted where original policy conditions apply and same-port procedural compliance is followed.
Breaking high denomination non transferable scrips into smaller denominations is permissible, provided the eligibility, entitlement, transferability, usage and other conditions prevailing at the time of export or service provision govern the scrips; splitting should observe port specific procedures and compliance requirements.