Section 62(2)(ii) in The Insurance Regulatory And Development Authority (Conditions Of Service Of Officers And Other Employees) Regulations, 2000
(ii)if the enhanced penalty which the appellate authority proposes to impose is one of the penalties specified in regulation 49 and an enquiry under regulation 52 has been held in the case, the appellate authority shall make such orders as it may deem fit after the appellant has been given a reasonable opportunity of making a representation against the proposed penalty; and