I think its PL.
IF i am wrong please correct me.

It not that PM or TL.who takes the initial responsibility 
of the project he will be releasing the builds as well as 
the projects. 

if ur PM is in onsite and all the builds are taken by the 
TL then he ill release the builds as well as the project.

If ur PM is in offshore, if he takes the initital 
responsibility then he will release the project.

The answer depends on both and delivery manager comes in to 
picture in some occations

PM only release the projects