Rattled by the International Boxing Association's decision to provisionally suspend the Indian Federation, chairman Abhay Singh Chautala on Friday said he was willing to step down from his post and the body was ready to hold a re-election to regain AIBA's affiliation.
The International Boxing Association suspended the IABF alleging "possible manipulation" in its recent elections but the body denied the charge, insisting that the process was "transparent".
However, Chautala said re-election was an option if that is what the AIBA insisted on.
"We are ready for a re-election and I am ready quit the post of chairman. AIBA can send its observer and fix the date also. I have told the IABF President and Secretary General to speak to the AIBA officials and sort out the matter," Chautala told reporters in New Delhi.
"Whoever has complained against us is against the country. There is no problem in boxing," he insisted.
The development comes within a few days of the International Olympic Committee suspending the Indian Olympic Association.
"Further to the International Olympic Committee's suspension imposed on the Indian Olympic Association, the International Boxing Association (AIBA) Executive Committee Bureau has decided today December 6 to provisionally suspend the Indian Amateur Boxing Federation (IABF)," the AIBA said in a statement.
"This provisional suspension is also due to the fact that AIBA had learned about possible manipulation of the recent IABF's election.
"AIBA will now investigate this election and especially a potential political link between IOA President, as former Chairman of the IABF, and the IABF election," it added.
During the September elections, outgoing President Chautala, who was elected IOA president despite IOC's suspension, was retained in the body as nominated chairman.
The development put a question mark over Chautala's election as IOA President since he came into the fray as an IABF representative. Interestingly, his brother-in-law and BJP MLA from Rajasthan, Abhishek Matoria, was elected as the new IABF President.
Chautala, however, asserted that his position in the IOA is not threatened as he is the President of the Haryana Olympic Association.
"Since I am the President of the Haryana Olympic Association, I can continue," he said.
Chautala said the issue of IOA's suspension is also likely to resolved once the IOC officials return from Christmas holidays.
"Now the Christmas holidays will start in Europe and after that we will look for a quick solution," he said.