In his petition, Dharmarajan stated that the money from a businessman based in Mumbai was handed over to him by Sunil Naik.
The court observed that the prosecution produced plenty of evidence to establish the accused were involved in the crime, and that mere delay in trial is not a ground for bail.
The RSS worker, identified as Shimoj, was attacked with sharp objects and sustained injuries on his face and chest. CPM member Babu was also hacked to death in Mahe.
The BJP has alleged that the CPI(M) was behind the cruel act, a charge which the ruling party has dismissed.
BJP state President Kummanam Rajasekharan, former Union minister and MLA, O Rajagopal and RSS leader P Gopalankutty are attending the meeting called by the chief minister.
Large numbers of party men, led by Kummanam Rajasekharan, O Rajagopal MLA and district president S Suresh were present at the medical college in Thiruvananthapuram where the post mortem was underway.
The home minister's phone call to the Kerala chief minister came a day after an RSS worker was hacked to death by a gang.
City police has extended prohibitory orders for three more days till August 2 and banned processions in the state capital.
BJP state president Kumanam Rajasekharan alleged that the CPI-M was behind the attack, a charge denied by the district leadership of the left party.