The RJD later dismissed the allegations as "absurd and baseless", saying no one takes Sushil Modi "seriously".
Modi, who has been repeatedly attacking Prasad and his family for purportedly owning benami property worth over Rs 1000 crore, alleged that a Kolkata-based company purchased a house along with a piece of land worth Rs 76.32 lakh when RJD chief Lalu Prasad was the railway minister (2004-2009).
The company later made Prasad's two sons, now ministers, and two daughters its "directors", he alleged.
"The company may have purchased the land either at Kolkata, Mumbai or Patna. I am making a conservative estimate of Rs 10 crore as its current market value," he claimed.
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When asked how he can claim that the shares of the company have been transferred to Prasad's sons and daughters when the latest list of shareholders issued on March 31, 2016, did not have the names of Prasad's kin, Modi said, "The company and the names of all 20 shareholders are fake."
"I'll create a situation where Nitish Kumar will have no option but to dismiss these two ministers (Tej Pratap Yadav and Tejashwi Prasad Yadav)," Modi said.
RJD spokesman and MLA Shakti Singh Yadav said, "Sushil Modi is suffering from Lalu phobia these days.
"Neither the party nor the people of the state take Modi's absurd and baseless allegations seriously and hence the party does not even consider it worth replying...Modi's allegations thus prove that he has reached the extreme point of moral degradation," he said.