The Indian boxing contingent lodged a protest after paying a USD 500 fee, which would not be refunded if the review upholds the original decision.
"A protest has been lodged against the decision," a member of the contingent told PTI.
The 32-year-old Indian was left in tears after losing a bout in which she matched Park blow for blow in the opening round and was markedly more aggressive and precise thereafter.
Such was the Indian's ferocity that Park resorted to holding to slow down the pace of the bout after being left with a bloodied nose.
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But Sarita's precision and her brilliant ring craft failed to find favour with the judges in the third and fourth rounds which went to the home favourite, who was struggling to stand up to the onslaught of punches from the Manipuri.
Meanwhile, Sarita found support from India's long-time Cuban coach B I Fernandes and fellow boxer M C Mary Kom, who advanced to the final.
"Sarita was a clear-cut winner but money has talked here and the judges deserve to be thrown out. It happened in Seoul during the 1988 Olympic Games, it's happening now again. Nothing seems to have changed. The new rules have made no difference," he fumed.
Mary also expressed her disappointment.
"I am shocked and disappointed. Sarita was the clear winner. This should not have happened," she said.