Addressing a press conference at his home town in Pathanapuram in neighbouring Kollam district, he said the audio and video that have come in the media was distorted and edited and there was a conspiracy in making his speech controversial.
He alleged there was a deliberate attempt to term him as anti-minority and asserted that he has never been so, adding, he had not done anything wrong.
K B Ganeshkumar, the lone party MLA and Pillai's son, also apologised for his father's remark.
Meanwhile, police have started a probe based on three complaints.
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Police said further proceedings against Pillai would be initiated only after examining the audio and video footage of the controversial speech.
Soon after Pillai's alleged remarks came out in the media, widespread protests were witnessed from various sections of the society, especially from the minority community organisations.
The KC(B) leader reportedly made the speech on July 31 at Pathanapuramat a meeting of Nair Service Society (NSS), an organisation of the forward Nair community in the state.
Pillai, who was with Congress led UDF, had left the Front three years ago and supported the CPI-M led LDF during the assembly polls in May this year.