the suggestion in the following thread is to check the wiring to the gearbox
www.fiatforum.com

Punto sporting Speeear | FIAT Punto (Mk2/2b)
I have the auto gearbox light flashing and the car was in emergency drive mode(max 20mph). Took it to auto gearbox specialist who managed to lose the drive altogether. looked at wiring into ECU and repaired some chaffed wires, now got Engine Management light and code 1702/1708 on any ideas...
