The Committee of Privileges of Lok Sabha, which has got punitive powers, has been asked by Speaker Meira Kumar to go into the incident which saw widespread outrage and condemnation.
"The report (Speaker's letter) has not come to us. When it reaches us, we will call a meeting of the committee and take a decision. Again the report should be adopted by Parliament. So I do not think that there is sufficient time (for Lok Sabha) to take a decision on this issue," Chacko told reporters outside Parliament House.
"Beyond that I can't say... Where is the time," he asked, citing that there was no time left as the last session of the 15th Lok Sabha is scheduled to conclude this week.
Chacko also said that the pepper spray attack resulting in hospitalisation of three MPs following a ruckus over introduction of the Telangana bill was a "serious matter" and a decision should have been taken by the House the same day.
The Speaker, who suspended 16 Seemandhra MPs after the incident, had expressed anguish saying it has "shamed the country and Parliament" and called it a "blot".
Unprecedented pandemonium broke out in the House when expelled Congress member L Rajagopal, an industrialist and opposed to the division of Andhra Pradesh, brought a canister from which he sprayed pepper. He had attracted widespread condemnation. All political parties have demanded action against unruly MPs.
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