The IOA was suspended by the International Olympic Committee (IOC) last year for electing Lalit Bhanot, who served 11 months in jail on corruption charges, as its secretary general during its controversial December poll. (Agencies)
During crucial meetings in Lausanne in May, the IOC offered the country a lifeline, asking the suspended IOA to amend its constitution and, among other things, bar any person charged for corruption from holding office.
But in a meeting this month, the IOA refused such a blanket ban, instead proposing an ethics committee would look into the case of any official who has been convicted for less than two years in jail.
Abhinav Bindra, who won India's only individual Olympic gold at the 2008 Beijing Games, said the administrators have failed the country which remains an Olympic laggard despite its 1.2 billion population.
"To a certain extent, yes (the IOA has failed the country). A lot needs to be done for Indian sport and with our potential we are nowhere near where we can be," Bindra said in an interview.
"We are still stuck with fighting on clauses that are absolutely non-negotiable... something which is all about ethics,” he said.
"The ethical standards are laid down under the Olympic Charter and to defy that is not good. It does not go well for the Olympic movement," said Bindra.
The government has also backed the IOC's efforts in barring tainted officials from contesting the national Olympic body's elections.
Bindra said there has been good response to the petition, which will be sent to IOC president Jacques Rogge, pleading the world governing body to maintain the "highest moral standards" of the Olympic Movement in the country.
"We are at a stage where we can either get reforms in place or go back to the status-quo," Bindra, one of the few Indian athletes to consistently question India's sports administrators, said.
"This petition was started because of all that has happened in the last few weeks. We want a clean and effective Olympic body where it can help us and Indian sports to grow and we athletes can represent our country and our flag once again," Bindra said.
The IOA was suspended by the International Olympic Committee (IOC) last year for electing Lalit Bhanot, who served 11 months in jail on corruption charges, as its secretary general during its controversial December poll.