Section 39(3)(iv) in Life Insurance Corporation of India (Staff) Rules, 1960
(iv)where the disciplinary authority is of the opinion that the penalty to be imposed is any of the penalties specified in clauses (f) to (j) of sub-rule (1), and if it is lower in rank to the appointing authority in respect of the category of employees to which the employee belongs, it shall submit to the appointing authority its recommendations regarding the penalty that may be imposed and records of the enquiry shall also be submitted to the appointing authority in such cases and thereafter the appointing authority shall make an order imposing such penalty, as it considers appropriate;