Section 47(3) in Insurance Regulatory and Development Authority of India (Lloyd's India) Regulations, 2016
(3)The Authority after considering the reply to the show-cause notice, if received, shall as soon as possible but not later than thirty days from the receipt of the reply, if any, pass such orders as it deems fit. If no reply is furnished to the Authority by Lloyd's India or the service company or the syndicate within 90 days of the service of the notice, the Authority can proceed to decide the issue ex-parte.
