Jajodia was elected unopposed as President of Boxing India, which replaced the terminated Indian Amateur Boxing Federation yesterday, in elections conducted under the supervision of the international body AIBA.
AIBA will take another couple of days to grant Boxing India provisional recognition before India's formal re-induction into the international body happens in November, ending nearly two years of suspension.
Speaking to PTI after his election, he denied allegations of conflict of interest, presented a blueprint for the future and promised a financial windfall for boxers, who have been denied international exposure due to the federation's termination resulting in dipping medal counts.
"I took up this challenge because boxing had gone down significantly ever since the federation got suspended in December 2012. Being the chief sponsor, I was watching everything and something had to be done to bring the sport out of this abyss. The athletes were suffering and that was the saddest bit. For the time being, I can tell them that hopefully they would get to compete under the Indian flag in the Asian Games," Jajodia said.
"I was approached by these very people to take up this job. Even the boxers came to me and asked me to take up the responsibility, such was the extent of disillusionment. I hope I live up to their expectations," he said.