Robinho and Baptista missed training on Friday and were omitted from Madrid's 2-1 loss at Espanyol in the Spanish league the following day.
"The board is very keen to hasten this process and will decide on the case soon," Madrid said in a statement on its Web site.
The players are each likely to be fined between EUR3,000-4,000 (US$4,265-5,685), sports daily Marca said Tuesday.
Robinho was reported to have celebrated into Thursday morning after Brazil's 5-0 win over Ecuador in a World Cup qualifier in Rio de Janeiro.
Both players may be recalled for Madrid's Champions League match against Olympiakos on Wednesday.