Mr Mike Fagan, the chief executive of IE Domain Registry, is understood to have been suspended on full pay pending an investigation ordered by the board of the internet body.
The IE Domain Registry maintains the database of .ie internet names but is not a governing or regulatory body.
Mr Fagan was suspended yesterday by the company's chairman, Prof John Scanlan.
Prof Scanlan refused to comment yesterday on the incident.
In a strange twist, gardaí were called to the the premises of the domain registry in Dún Laoghaire, Co Dublin, at 3 p.m. yesterday.
Later, a Garda spokesman said they were not required.
Mr Fagan told The Irish Times he had been denied natural justice yesterday and would fight the suspension in the courts after taking legal advice on the matter.
"I'm not interested in being reinstated but I want to ensure that I'll be compensated generously for the embarrassment caused by this action," he said.
Mr Fagan's suspension is the latest incident in a series of internal wranglings at the domain registry.
Last week, the secretary of IE Domain Registry, Mr John Coman, resigned.
Mr Coman is corporate secretary with UCD, which originally operated the IE Domain Registry.
The reason for his resignation was not clear last night and Mr Coman could not be contacted.
Mr Fagan said company was in the process of having the responsibility for the domain transferred from UCD.
The transfer process has been continuing for the past number of years.
The transfer of the authority to operate the domain registry involves a number of entities including: the Department of Communications, Marine and Natural Resources; ICANN, the international body which oversees the distribution of domains; and UCD/IE Domain Registry.
The company is in an unusual position in that it is a private company which operates a public resource.
The company is a not-for-profit guarantee company with no share capital.
The transfer of the authority to operate the domain registry is understood to be dependent on aspects of the company's memorandum and Articles of Association.
It has recently filed new amended articles of association but according to some sources they may still not be suitable for the transfer of the authority for the registry to IE Domain Registry.
