Section 46(2)(iii) in Life Insurance Corporation of India (Staff) Rules, 1960
(iii)if the enhanced penalty which the appellate authority proposes to impose is one of the penalties in clauses [(f) to (j)] [Substituted '(b) to (g)' by Notification No. G.S.R. 647(E), dated 19.10.2020 (w.e.f. 23.7.1960).] of Regulation 39, and an inquiry under the said Regulation has not already been held in the case, the appellate authority shall itself hold such inquiry or direct that such inquiry be held and thereafter on consideration of the proceedings of such inquiry and after giving the appellant an opportunity of making any representation which he may wish to make against such penalty, pass such orders as it may deem fit.