The channel had earlier tendered an apology admitting that it had conducted a "sting operation" involving one of its women journalists and not a housewife, as claimed earlier. The CEO of the channel and four mediapersons were arrested in connection with 'sleaze audio' case and were now out on bail.
The Justice P S Antony commission, which went into the allegations against the former minister, had in its report submitted to the government in November last year stated that it could not ascertain the authenticity of the purported voice clip of Saseendran.
In a related development in the case, a public interest litigation was filed in the court stating that the woman journalist might have reversed her statement due to "fear" and that the proceedings should not be closed.
The chief judicial magistrate rejected the plea, stating that it was a matter between the two persons and a third person cannot interfere into it.
Saseendran resigned as minister in March 2017 and Thomas Chandy, the other MLA of the party, replaced him as the transport minister.
However, Chandy also had to resign in November 2017 after allegations of land encroachment surfaced against him.
The NCP state leadership had then taken a decision that whoever comes clean of charges first would become the minister again.
Expressing happiness over the verdict, Saseendran said he would abide by the party leadership's decision.