The aggrieved grapplers called off their protest late on Friday night after getting assurances from the government that their grievances would be addressed, the first step of which was the stepping aside of under-fire Wrestling Federation of India chief Brij Bhushan Sharan Singh.
The wrestlers, including Vinesh Phogat, Bajrang Punia, Sakshi Malik and Ravi Dahiya, decided to end their protest after a breakthrough was achieved during a second round of talks with union sports minister Anurag Thakur.
The wrestlers, some of the country's finest, have levelled allegations of sexual harassment and corruption against the WFI and its chief.
"It has been decided that an oversight committee will be formed. Names for which will be announced tomorrow. The committee will complete its investigation within four weeks. It will thoroughly probe all the allegations be it financial or sexual harassment that have been levelled against WFI and its chief," Thakur said after the marathon meeting.
"Till the investigation is over, he (Singh) will step aside and co-operate with the investigation and the oversight committee will run the day-to-day affairs of WFI," he added.
This came barely few hours after the Indian Olympic Association had formed a seven-member committee, headed by M C Mary Kom, to probe the charges against Singh.
Olympic medallist Bajrang said, "We have been assured safety and security by the government because we were threatened by WFI president in the past. We did not want to take the route of protest, but we were pushed to the limit.
"This is an important year with the Asian Games and Olympic qualifiers lined up. So, after getting assurances from the government, we have decided to end the protest."
"We are sure the committee will conduct an unbiased investigation. As far as our safety is concerned, the minister has assured that it is their responsibility."
Besides legendary boxer Mary Kom and wrestler Yogeshwar Dutt, the IOA panel includes archer Dola Banerjee and Indian Weightlifting Federation of India (IWLF) president Sahdev Yadav.
The committee also has two advocates -- Talish Ray and Shlok Chandra -- besides former shuttler Alaknanda Ashok, who is its vice chairperson.
The IOA decision was taken during the apex sports body's emergency Executive Council meeting, which was attended by the likes of Olympic champion shooter Abhinav Bindra, Olympic bronze medallist Yogeshwar, along with IOA president PT Usha and joint secretary Kalyan Chaubey.
IOA Athletes Commission Member Shiva Keshvan was a special invitee in the meeting.
IOA president PT Usha has assured that a thorough investigation will be carried out by its panel to ensure justice.