In a statement issued in Lausanne, the AIBA has said that the boxer has regretted her actions.
"The Head of the Indian Mission at the Incheon Asian Games 2014 Mr Adille J Sumariwalla has forwarded to the President of the International Boxing Association Dr Ching-Kuo Wu, a letter of apology of Woman boxer Sarita Laishram Devi (57-60kg) who had refused to receive the bronze medal at the Award Ceremony for the 17th Asian Games," the AIBA said in a statement.
"Mrs Devi expressed 'an unconditional apology' for her 'emotional outburst' at the ceremony, writing that 'I regret and apologise. Such an incident will never re-occur in the future'," it added.
A disconsolate Sarita had refused to accept her bronze medal during the medal ceremony to protest her controversial semifinal loss to South Korean Jina Park. Sarita (60kg) had lost the bout despite dominating the proceedings.
AIBA had taken a strict view of her actions, saying that the "whole incident looked like a well-planned scenario by her and her team, and it is regretful to watch a boxer refuse the medal regardless of what happened in the competition."
Her medal was re-instated on Thursday after a hearing by the Olympic Council of Asia during which the Indian delegation expressed regrets over the incident.
AIBA said the India's chef-de-mission at the Asian Games, Sumariwalla, has claimed that the incident was not planned.
"The Head of the Indian Mission has furthermore asked the AIBA President to take into account this letter and the specific circumstances which led to such a ‘spontaneous knee jerk reaction', which according to Mr. Sumariwalla, was not ‘a planned effort' of the Indian delegation," the AIBA statement read.