Concept:
Modern classroom management is based on the "Diagnostic-Remedial" model. Rather than suppressing a symptom (lateness) through fear (punishment), the teacher acts as a counselor to find and fix the root cause. This approach respects the student's dignity and aims for long-term behavioral change.
Step 1: Critiquing Punitive Measures.
Punishment (2) or Expulsion (4) are "escape" methods for the teacher. They remove the problem from the teacher's sight but do nothing to help the student. Reporting to the principal (1) is a premature escalation that breaks the trust between the teacher and the student.
Step 2: Adopting a Professional Response.
The teacher should Probe into his behaviour. This involves private conversation and investigation. Is the student late because of transport issues? Domestic responsibilities? Lack of motivation? Once the "Why" is known, the teacher can provide the necessary support or guidance.