Chandrasekharan, a CPI(M) rebel who floated the parallel outfit Revolutionary Marxist Party (RMP), was hacked to death in May 2012 near his hometown Onjiyam near Vatakara in Kozhikode district.
However, the film titled "T P 51" was released today in a handful of state-run cinemas owned by Kerala State Film Development Corporation.
Film director Moidu Thazhathu said over 20 private theatres, who had earlier agreed to screen the film, had backtracked at the last moment reportedly due to pressure from CPI-M.
He had received 51 stab injuries which prompted the director to title the film as "T P 51".
Reacting to the alleged threat by CPI-M, state minister for cinema Thiruvanchoor Radhakrishnan said it was an infringement on the freedom of expression.
"It was ironical that CPI-M, which always stood for freedom of expression, is afraid of the film," he said.
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