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Shailaja also filed a complaint with the Chief Minister and DGP over the row.
He also questioned the Pinarayi Vijayan government for allowing K Krishnankutty to continue in the state cabinet even after JD(S) joined BJP.
LDF is fielding CPI leader Pannyan Raveendran against Chandrasekhar in Thiruvananthapuram.
Jayarajan's wife P K Indira holds shares in Vaidekam Ayurveda Healing Village at Morazha in Kannur, managed by Niraamaya Wellness Retreats, a hospitality firm backed by Chandrasekhar’s Jupiter Capital.
A news channel is blackmailing me, I will file a case soon, he said.
Alappuzha is the only sitting seat of the Left Democratic Front (LDF) out of the 20 parliamentary constituencies.
The decision comes after the front's 'biased' action of inviting only former minister Ahammed Devarkovil, who is president of the party's rival faction, to a meeting recently.
Pannyan Raveendran, VS Sunil Kumar and CA Arun Kumar are the other candidates in fray.
Two probable CPM candidates have already started facing the social media heat with the rival.
The UDF won 10 seats, the LDF won 10 seats and the NDA won 3 seats.