Associated Press, quoting two officials with knowledge of the decision, said that a formal announcement on the suspension will be made at the end of the first day's Executive Board meeting in Laussane.
The decision was largely expected after the IOA decided to go ahead with Wednesday's elections under the government's Sports Code, defying the IOC's diktat to hold the polls under the Olympic Charter.
The officials spoke on condition of anonymity because the official announcement hasn't been made yet.
The IOC had repeatedly told the IOA not follow the government's sports code for the elections on grounds that it would be in violation of the Olympic Charter and compromise autonomy. But the IOA went ahead saying they are bound by the Delhi [ Images ] high court order.
Suspension meant that the IOA will stop receiving IOC funding and its officials will be banned from attending Olympic meetings and events.
India's athletes will be barred from competing in Olympic events under their national flag, but they can participate under the IOC banner.
The IOA top brass, meanwhile, said they are unaware of the decision.
Sports Minister Jitendra Singh said that it is an "unfortunate decision" for the Indian sports community.
"Once we knew about the mess we had written to the IOC but they never responded," Jitendra said.