We present a detailed experimental study of the mitigation of two-photon absorption (TPA) in a silicon micro ring modulator. TPA induced free-carrier absorption results in interesting optoelectronic process in silicon ring resonators. In this work, we study the effect of optical and RF power on the spectral characteristics of a ring modulator. In particular, we report the evolution of optical bistability in the transmission spectrum with free carriers and thermally induced refractive index change.