Dhamnod police station in-charge Mukesh Ijardar, a sub-inspector and two other policemen were suspended for negligence in their duties, Indore Range's Inspector General (IG) Vipin Maheshwari told PTI.
Twenty persons have been arrested in this connection, the IG said.
The incident took place last night in the Dhamnod police station area of the district. The couple was roughed up, partially undressed and then paraded through Khokariya, Balwari and Bayadipura villages for their alleged "affair", the police said.
The couple was also tied to a pole inside a 'garba pandal' and their faces were blackened.
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According to the police, the man (30) and the woman (35), who is a mother of five, were in love, but the local panchayat which did not "approve", decided to teach them "a lesson".
The couple's medical examination has been conducted at the local community health centre and about 20 persons were arrested today in connection with the incident, the police said, adding that the investigations are on.