Krishnaswamy was found shot dead in an elevator at the Johor state's MIC building in Johor Baru.
The state MIC deputy chief had sustained a gunshot wound beneath his left eyebrow, Bernama, the official news agency reported.
A man was spotted escaping from the scene on a motorcycle soon after the body was found in the elevator.
Johor state police have so far detained 13 people and recorded 51 statements in their bid to solve the murder.
Krishnaswamy was a prominent state leader of MIC that is part of the ruling coalition, Barisan Nasional.