A number of Championship clubs are demanding a serious points deduction be imposed on Sheffield Wednesday, should the club be found guilty of misconduct by an independent disciplinary commission over the sale of its stadium to owner Dejphon Chansiri.
The EFL have confirmed to Sky Sports News that the process is "ongoing".
Wednesday were charged by the EFL in November and will face the disciplinary commission before the conclusion of the current season.
The charge relates to the sale of the club's Hillsborough stadium to Chansiri for £60m in 2017/18.
Wednesday have said they believe the charge to be "unlawful" and have challenged the league's decision.
A group of clubs are insisting that, if found guilty, Wednesday should receive a significant points deduction. The measures open to the commission range from a warning up to possible expulsion from the league.
League guidelines allow up to a 12-point deduction depending on the size of any financial failure.
The guidelines also allow for up to a further nine-point deduction for what are described as "aggravated circumstances".
Wednesday are currently 12th in the Championship table, 14 points above the relegation zone.
The 71 EFL clubs will meet later this month with the issue of profit and sustainability high on the agenda.