In her petition, Saritha alleged a businessman had paid money to the Chief Minister's Office in connection with a solar project.
Dismissing the petition, Justice B Kemal Pasha said it was politically motivated.
The court also posed a question whether a person accused in 33 criminal cases, allegedly involving crores of rupees from public, claim such a privilege.
Saritha had alleged that businessman Malleli Sreedharan Nair had met the Chief Minister to get a personal assurance from him before investing an initial amount of Rs 40 lakh in the project.
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"Amounts were also paid to the office of the Chief Minister," the petitioner had alleged.
She had pleaded with the court to direct the state government to conduct a re-investigation into the case, registered in Konni Police station, by a separate and competent investigating agency, if possible, by the CBI.
Noting that the original complaint seeking an investigation was filed before authorities by Sreedharan Nair, the court said "the petitioner is the prime accused in the case and has no authority to represent the complainant".
Accusing the Special Investigation Team set up by the state government to probe the scam of "consciously refusing" to look into "evidence" relating to the meeting between the chief minister and the businessman, Saritha had said "she is even willing to produce such evidence even before the court."
Saritha is facing cheating cases in the scam in which scores of people were allegedly duped of crores of rupees after being promised solar panel solutions.