The Tangerines manager has declared he will resign if the club are punished by the Premier League for fielding a weakened side in the 3-2 defeat, after only being denied a point by James Collins' late winner.
The Premier League set a precedent last year when Wolves were given a suspended £25,000 fine after manager Mick McCarthy made 10 changes to his side to face Manchester United.
Holloway insisted his side was not under-strength and that he had no choice because of the club's busy schedule, which continues at struggling West Ham on Saturday.
Grant, though, claims there should be no problem with squad rotation, the Irons stretched to the limit by injury in their 2-2 draw with West Brom.
"They did what they had to do for that [match]," the former Chelsea and Portsmouth manager said. "Also they have a bigger squad than us, and without injuries, so they could do it."
Stoke manager Tony Pulis has also defended Holloway's selection.
Pulis said: "I don't have a problem at all.
"I think it should be left to the manager of the football club to decide what team they pick, and nobody else.
"Knowing Ian - and I've known him since he was 14 - whatever team he picks he will expect to go out and have a go.
"I think they did that last night, they were very unlucky not to get something out of the game.
"Who is to say the other 10 players he left out would have done as well as the 10 that played?"