Section 41(7) in Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017
(7)The order in disposal of a show-cause notice may provide for-(a)no action;(b)warning;(c)any of the actions under section 220(2) to (4); or(d)a reference to the Board to take any action under section 220(5). (8) The order passed under sub-regulation (7) shall not become effective until thirty days have elapsed from the date of issue of the order, unless the Disciplinary Committee states otherwise in the order along with the reasons for the same.
