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This is a movie called August 1 in Malayalam released in 1988. A sequel to this movie titled August 15, was released in 2011. The plot of this movie revolves around Perumal, a police officer, played by Mammooty and a contract based killer played by Captain Raju, who is known by various codenames.

According to the story, KG.Ramachandran played by Sukumaran, is elected as the new Chief Minister of Kerala. He brings out revolutionary changes in administration. The opposition wants to kill KG Ramachandran and hence hires the professional hitman for this job. The killer somehow escapes all police security and manages to get near the CM while he checks the honour guard during August 15(Independence Day). But the police Officer shoots him down thereby saving the CM.

Now, which extremely famous book is this movie based upon?