Section 39(1) in Life Insurance Corporation of India (Staff) Regulations, 1960
(1)Without prejudice to the provisions of other regulations, [any one or more of] [Notified in Gazette of India, Part-III Section 4 dated 7.8.1971.] the following penalties for good and sufficient reasons, and as hereinafter provided, be imposed [by the disciplinary authority specified in Schedule-I] [Notified in Gazette of India, Part-III Section 4 dated 7.8.1971.] on an employee who commits a breach of regulations of the Corporation, or who display negligence, inefficiency or indolence or who knowingly does anything detrimental to the interest of the Corporation, or conflicting with the instructions or who commits a breach of discipline, or is guilty of any other act prejudicial to good conduct -(a)Censure;(b)[ Withholding of one or more increments either permanently or for a specified period;] [Notified in Gazette of India, Part-III Section 4 dated 7.8.1971.](c)recovery from pay or such other amount as may be due to him of the whole or part of any pecuniary loss caused to the Corporation by negligence or breach of order;(d)reduction to a lower service, or post, or to a lower time scale, or to a lower stage in a time-scale;(e)compulsory retirement;(f)removal from service which shall not be a disqualification for future employment;(g)dismissal.
