The case was assigned to the IPS officer amid stiff protest by the opposition Congress-led United Democratic Front (UDF) alleging political influence over the probe team.
While it is a vegetarian sadya that is served for lunch is most parts of Kerala, fish and meat take pride of place on the plantain leaf in Malabar.
The deceased has been identified as Ratheesh, 35, a Panoor native. He was the second accused in the murder case.
Youth League worker Paral Mansoor, 21, was hacked to death after the gang hurled bomb at the brothers late on April 6, soon after the voting for the Legisaltive Assembly election in Kerala.
The body of Branch Manager K Swapna, 38, was found on Friday morning. Swapna's body was first seen by another woman employee who arrived at 9 am.
This team will also investigate the violent incidents that took place after the murder. Kannur Crime Branch DySP K Ismail has been entrusted with the investigation.
District Superintendent of Police Ilango R told reporters here that a 15-member team headed by a Crime Branch Deputy SP would probe into the case.
Some of the shops nearby were also destroyed. The attacks have caused concern in the politically sensitive district.
Mansoor and his brother Muhsin were hacked by a group of assailants near their house around midnight on Tuesday.
One of the assailants, a CPI(M) worker, was taken into custody and 10 other suspects have been identified.