Section 53(3) in Insurance Regulatory and Development Authority of India (Insurance Brokers) Regulations, 2018
(3)The Authority after considering the reply to the show cause notice shall, as soon as possible, but not later than thirty days from the receipt of the reply, pass such an order as it deems fit.Provided, however, that where the insurance broker on serving of the notice under this regulation fails to furnish any reply within the stated period, the Authority may after the expiry of such time proceed to decide the case on merit and pass such an order as it deems fit.
