"All the allegations levelled against my family (wife and two sons) are baseless and absurd. All the transactions have been done in accordance with the relevant provisions of the laws concerned," Prasad told reporters here.
Prasad, however, said the two acres of land on which a mall is being built in Patna belonged to the company owned by his family.
To a query on the ownership of the land on which the mall is coming up, Prasad said, "The land belongs to the company in which three persons namely Rabri Devi, Tejashwi Prasad Yadav and Tej Pratap Yadav are the shareholders."
BJP leader Sushil Kumar Modi had on April 7 demanded that Chief Minister Nitish Kumar sack Lalu Prasad's two minister sons for allegedly getting benami properties worth Rs 750 crore transferred in their names.
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Asserting that all the transactions with regard to transfer of shares have been done as per the laws, Prasad said the charges were a conspiracy to tarnish the image of his family.
Modi had alleged that Prasad during his tenure as Railway Minister had sold off two hotels in Puri and Ranchi controlled by the Railways to a hospitality chain owned by one Harsh Kochar in February 2005.
Replying to the allegations, the RJD supremo claimed Kochar was allotted the lease of the two hotels through a competitive bidding and the highest bidder was given the lease of the two hotels.
Reacting to Prasad's comment, Modi claimed that his allegations have been proved "correct" as Prasad had himself "admitted" that he is the owner of the said land of two acres with an estimated cost Rs 500 crore.
Modi again demanded that Chief Minister Kumar sack Tejaswhi and Tej Pratap from his cabinet for allegedly getting benami properties transferred in their names.
Seeking investigation into the "mall scam", Modi said that Kumar has been demanding from the Centre to attack benami properties and now he should act against his ministers as the properties lie in Bihar.