Speaking to reporters here, he said the trio had assassinated the Prime Minister and a leader of great stature and if they were released it would only set a bad precedent.
"The decision (of Tamil Nadu government) is shocking, unacceptable and embarrassing and hence they should reconsider it," he said and pointed out that life term meant they should be incarcerated till the end of their lives.
Narayanasamy said AIADMK had strongly come out against the LTTE soon after Rajiv Gandhi's assassination in 1991, demanding a ban on it and that it be declared a terror outfit. The party had also pointed out that LTTE supremo Prabhakaran be brought to India for trial and for deterrent punishment.
But now the AIADMK government in Tamil Nadu had taken an "arbitrary" decision to release them, Narayanasamy said.
He said the state government had no constitutional authority to take such a decision as the case was probed by CBI and the culprits were punished under provisions of TADA.
"This U turn gives rise to suspicion that AIADMK is now seeking political mileage and eyeing the Lok Sabha polls," he said.
Narayanasamy also said he did not personally agree with the Supreme Court's decision to commute to life term the capital punishment imposed on the assassins.
"Merely because there was delay on the part of the Centre to take a decision on mercy petitions submitted by the convicts does not mean that the capital punishment can be reduced to life term," he said.
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