Section 48(1) in Life Insurance Corporation of India (Staff) Rules, 1960
(1)Notwithstanding anything contained in these [Rules] [Substituted 'Regulations' by Notification No. G.S.R. 459(E), dated 30.6.2021 (w.e.f. 23.7.1960).], the [Board] [Substituted 'Corporation' by Notification No. G.S.R. 481(E), dated 7.7.2021 (w.e.f. 23.7.1960).] may, on its own motion or otherwise, after calling for the records of the case, review any order which is made or is appealable under these [rules] [Substituted 'regulations' by Notification No. G.S.R. 459(E), dated 30.6.2021 (w.e.f. 23.7.1960).], and -(a)confirm, modify or set aside the order;(b)impose any penalty or set aside, reduce, confirm or enhance the penalty imposed by the order;(c)remit the case to the authority which made the order or to any other authority directing such further action or inquiry as it considers proper in the circumstances of the case; or(d)pass such other orders as it deems fit.Provided that an order imposing or enhancing a penalty shall not be passed unless the person concerned has been given an opportunity of making any representation which he may wish to make against such enhanced penalty.
