The denial by Jaiswal came after BJP secretary Kirit Somaiya alleged that Congress' Rajya Sabha MP Vijay Darda and his family had been alloted coal blocks in a non-transparent manner through several companies in partnership with Jayaswal group, whose owners are allegedly related to the minister.
Jaiswal dared Somaiya to prove the allegations against him.
"I ask Somaiah to prove his allegation. If it is found to be true, I will retire from politics. But if found to be wrong, Somaiah should be the one to retire (sanyas)," he said in Kanpur.
Darda also dismissed the allegations, calling them baseless.
Addressing a press conference in Mumbai, Somaiya alleged that an artificial web of companies has been created to conceal and deceive people.