A former state Youth Congress vice-president, Sreenijan had been under pressure from his party after coming under the shadow of allegations that he had accumulated assets disproportionate to his known sources of income as a lawyer.
State Youth Congress chief Vishnu Nath, who accepted the resignation, told reporters that it has been forwarded to the Youth Congress National President.
The issue came up at the state committee meeting of the Youth Congress here today, attended by its national secretary Rizwan Arshad.
Sreenijan had unsuccessfully contested the last Assembly polls from Njarakkal segment in Ernakulam district.
Kerala government has begun the process of a vigilance inquiry over allegations against Sreenijan on a private complaint that he had amassed wealth disproportionate to his known sources of income.
Sreenijan`s own party leaders have distanced themselves from him after the allegations surfaced.
Meanwhile, Chief Minister V S Achuthanandan said the government would take action against Balakrishnan`s younger brother K G Bhaskaran, a government pleader, if any complaint was received against him.
Bhaskaran yesterday went on medical leave after the Advocate General asked him to either demit office or go on leave in the wake of corruption charges against him.