After SEBI order, Sahara says it had 'willfully surrendered' sub-broker licence two years back On March 3, Sebi passed an order cancelling the certificate of registration of SIFCL as a sub-broker citing its failure to fulfill the 'fit and proper' criteria PTI | March 7, 2021 | Updated 17:54 IST On March 4, the group wrote to Sebi saying that on October 3, 2018, SIFCL had surrendered the sub-brokership license to IDBI Capital Days after Sebi cancelled Sahara India Financial Corporation Ltd's (SIFCL) certificate of registration as a sub-broker citing non-compliance with 'fit and proper' criteria, Sahara India on Sunday said the company had "willfully" surrendered the licence two years back.