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Indian Olympic Association president P T Usha announced that Mary Kom had asked to be relieved from her position in a letter addressed to her.
The ad-hoc committee, under the chairmanship of Bhupender Singh Bajwa, was constituted on December 23 after the newly-elected WFI, led by Sanjay Singh, had allegedly flouted its own rules.
So far, 49 Indian athletes, including 17 shooters and the men's hockey squad, have qualified for the July-August Games.
Wushu Association of India president Bhupinder Singh Bajwa will be the chairman of the panel with hockey Olympian M M Somaya and former international shuttler Manjusha Kanwar being the other two members.
In the wake of rescheduled elections, the dates of nominations, scrutiny and withdrawal of nomination is also likely to change.
The Indian Olympic Association appointed former Jammu and Kashmir High Court Chief Justice Mahesh Mittal Kumar as the returning officer.
The Indian Olympic Assoication has made it clear the the outgoing office-bearers shall have no role in the running of the federation.
The IOA also instituted a three-member adhoc panel to run the affairs of the WFI until a new body is elected.
The election of Usha to the top job marked an end to the long-drawn crisis in the faction-ridden IOA, which was warned of a possible suspension by the IOC.
Usha is being seen as a candidate of the ruling Bharatiya Janata Party which had nominated her to the Rajya Sabha in July.