After upgrade the LINUX base to 4.8.0.42, the Ubuntu 16.10 is not starting. Even if it starts, it does not identify the wireless and other hardware drivers. Everytime I have change the option in Advance Options (GRUB) and select 4.8.0.41 to start the laptop.
Is there any way I can remove the 4.8.0.42 base, so that the system uses the 4.8.0.41 base.
The general policy is to keep two kernels around, so if the newer one won't boot, you can fall back on the older one. In your case, if you are sure the older one works, yes you can do
sudo apt remove linux-generic 4.8.0.42.*.This should do an
update-grubautomatically, so the next time you boot, the remaining kernel will be used.