"If they had come and told me 'you resign', then I would have thought of that. But they did not demand. They met the Speaker seeking my removal. I don't think there is a rule to remove me," he told PTI.
Asked whether he would yield now since 15 members of 30- member Committee have demanded his removal, he ruled out any such possibility, saying the Speaker would take a decision on it.
"Why to yield? It is for the Speaker (to decide). It is for the Speaker to remove me," he said.
Fifteen members of Opposition parties met the Speaker on Thursday, saying they had no confidence in Chacko as JPC Chairman as he was "partial" and should be removed.
The parties pushing for Chacko's removal are BJP, BJD, JD-U, CPI, CPI(M), TMC, DMK and AIADMK.
The hard stance by these parties has increased confrontation in the JPC and the next meeting expected on May 2 or 3 could be stormy over this issue.