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Family dispute led to the murder and crime, say reports.
Aneeshya had died by suicide on January 21. The duo is accused of abetment to suicide.
Ramadas Prini Sivanandan was suspended and debarred for two years from Tata Institute of Social Sciences (TISS) alleging 'anti-national' activities.
The accident happened when a competing car in the racing event held at the central hill resort of Diyathalawa veered off the track and collided with the spectators.
The family had agreed to assume the bank liability of Rs 15 lakh while buying the property.
Kandilappara native Akhila (17) had been missing since Saturday evening.
She suffered 90 per cent burns in the suicide bid on Friday
Grade SI Binoy and woman civil officer Ambily sustained burns while trying to save the woman.
The disgrace and infamy brought upon by the false accusations shattered not only Ratheesh but also his entire family.
The High Court had revoked his bail due to the submission of a forged document