The Chief Minister also said that if Achuthanandan does not retract his charges within two days, he would launch legal proceedings.
The charges would not only affect him, but the prospects of the other 139 UDF nominees, he said.
"I will approach the Election Commission in two days in this regard. These blatantly false charges (by Achuthanandan) were raised many times in the past. It will not only affect me but the prospects of other 139 UDF nominees."
"The official documents will themselves answer the questions posed by him (Achuthanandan)", he said.
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Achuthanandan, in his Facebook post, had attacked Chandy saying he has only questions, no answers.
"Chandy expects me to answer his questions,but the Chief Minister is running away from my questions," he had said.
Chandy was speaking to reporters at the "Kerala Sabha-2016" programme at the Press Club here today.
Chandy had yesterday demanded that the CPI(M) veteran stop his "lie campaign" and apologise or face legal action.
He had said that Achuthanandan was using the election to spread "blatant lies" like saying there are 31 cases pending against him in the apex court and 136 corruption cases against 18 UDF ministers, when the truth was there was not even one.
Chandy said that unity and providing a stable government are the strengths ofthe ruling Congress-led UDF in Kerala, for which people would repose faith in the May 16 assembly polls.
On CPI(M) politburo member Pinarayi Vijayan's charge that Congress is colluding with BJP-RSS combine against LDF, Chandy said, "Congress and BJP will not come together at any point of time. Our stand against BJP and RSS is firm and clear".
He recalled that it was the Left parties which joined hands with Jan Sangh-BJP's parental organisation, in the 1977 general elections, with K G Marar and Pinarayi Vijayan constesting the polls as nominees of the same front.
In last year's Bihar assembly polls too, they (Leftists) tried to divide the secular votes", he said.