It contended that granting him relief would send a wrong message to society.
The court, on the other hand, said that a message has already gone to the society as the businessman was in judicial custody since January 9.
He was arrested from Wayanad on January 8.
Chemmanur, currently lodged in the District Jail here, approached the High Court after the Ernakulam Judicial First Class Magistrate Court-II denied him bail on January 9 and sent him to judicial custody for 14 days.
In his bail plea, he has claimed that the allegations originated from a complaint lodged by the female actor who, until recently, had publicly acknowledged and celebrated her two-decade-long acquaintance with him.
It has further mentioned that she had previously inaugurated three jewellery shops belonging to his business group as the chief guest in April 2019 at Perambra, in December 2022 at Attingal, and in August 2024 at Kannur.
The petition has stated that the actress herself publicly disclosed the complaint by posting a letter addressed to Chemmanur on social media, announcing the filing of the complaint and making unwarranted remarks against him.