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Actor Mammooty, who plays the iconic Sethurama Iyer, announced the release date of the film on his Facebook page on Monday.
Rajiv Gandhi was assassinated by the Liberation Tigers of Tamil Eelam (LTTE) cadres on 21 May, 1991 in a suicide bomb attack.
The Bill came days after the government withdrew the SPG security cover provided to members of the Gandhi family - Congress President Sonia Gandhi and her children Rahul and Priyanka.
With assembly elections to states like Maharashtra, Jharkhand and Delhi approaching, many in the party feel the Congress has been thrust in a "blind spot" due to the leadership crisis.
It is difficult to say whether McKnight is part of the Congress president's "social gang" but the relationship between the two is not just about being former business partners.