Molina was given marching orders in the second half of their 0-1 defeat to Mumbai City FC in the ISL game on Tuesday.
Diego Forlan scored the winner in the 79th minute to take his side to the top of the points table. Molina was sent off late in the match but the exact reason was not immediately clear.
The ISL disciplinary committee took a call on the quantum of punishment after reviewing the gravity of his offense.
"Molina was sent off from the field of play and immediate surrounds by the Match Referee during 90+1 minute of the game during Hero ISL Match 23 (25th October 2016, Atletico de Kolkata vs Mumbai City FC) for repeatedly protesting against referee's decisions," an ISL statement said.
"Additionally, AIFF Disciplinary Code (Article 19) states that an expulsion automatically incurs a suspension from the team's subsequent match."
Molina would now have to sit out ATK's away match against NorthEast United on October 28.