Section 39(3)(iii) in Life Insurance Corporation of India (Staff) Rules, 1960
(iii)where it is proposed to impose any of the minor penalties under clauses (b) to (e) of sub-rule (1), the employee concerned shall be informed in writing of the imputation of lapses against him and given an opportunity to submit his written statement of defence within a specified period not exceeding fifteen days or such extended period as may be granted by the disciplinary authority and the defence statement, if any, submitted by the employee shall be taken into consideration by the disciplinary authority before passing orders. However, where the disciplinary authority is satisfied that an inquiry is necessary it shall follow the procedure for imposing a major penalty under clauses (f) to (j) of sub-rule (1);