Conviction of the accused Saritha S Nair and her accomplice Biju Radhakrishnan had proved that investigation was in right direction, he told reporters here reacting to the verdict.
Chandy, whose resignation was demanded by opposition after three of his staff members were allegedly found to have contacts with Saritha Nair, said the court had complimented the investigation.
"It showed that the probe was done transparently and in a fair manner," he said, adding that it was also proved earlier itself that the "letter alleged on me was a fake", a reference to the accused allegedly using a fake letterpad of him.
Meanwhile, Saritha Nair said she would "reveal" all "corruption" that has taken place in connection with the scam.
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She also alleged that some people were trying to make her a scapegoat in the case. "No one should try to eliminate me using the power in hand," she said.
A complaint had been filed by an NRI Baburaj that the accused had swindled about Rs 1.19 crore from him by offering a share in their company "Team Solar" and the post of Director.
The case that came to light in June 2013 took a political turn as three of Chandy's staff members were forced to quit and one of them, Tenny Joppen, was arrested for alleged link with Saritha.
A total of 33 cases were registered against the duo in connection with the scam.
The opposition had launched an agitation pressing for Chandy's resignation, but the government did not relent.