Yes.  enalized. Usually academically (like in the US your GPA fall below 2.0) or bad behavior (such as underage drinking or peeing at a school building when drunk). Don't laugh, I have friends been disciplined for both of these actions.
"eeing at a school building when drunk" got my friend a $150 fine and 40 hours of community service. I don't know if it went into his record. If it did ("has been disciplined by an academic institution") then he will have to explain to adcom when he is applying to MBA/any grad school...