Party sources said Chandy stated this at a KPCC meeting here. He also pointed out there was no precedent in the state of a Chief Minister resigning just because a judicial probe had been announced.
Meanwhile, speaking to reporters after the meeting, KPCC President Ramesh Chennithala flayed the LDF stir against Chandy, seeking his resignation over the scam.
"Protest of LDF by throwing rotten eggs and waving black flags is crossing all limits. LDF is trying to topple a democratically elected government and their efforts will not succeed," he said.
To a question on government Chief Whip P C George,a known critic of the government, writing a a letter to AICC chief Sonia Gandhi criticising Chandy over the scam,Chennithala said he did not know whether George had sent the letter or not.
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"I am not interested to trigger a controversy on the issue', he said when asked about the letter.
He also said Congress in Kerala is all set to face the coming Lok Sabha polls and ruling UDF would face it unitedly.
The scam relates to cheating people of huge sums by the arrested accused Biju Radhakrishnan and Saritha Nair by offering solar energy solutions. A Special Investigation Team probing the case has completed its probe.
The case assumed a serious political dimension with the arrest of Tenny Joppan, a personal assistant in the Chief Minister's office, for his alleged links with the accused.
LDF has alleged that such a huge scam would not have taken place without the collusion of the Chief Minister.