Soon after Mr Kejriwal made the allegation at a press conference in New Delhi, Ms Tandon told reporters that the accusation levelled by the IAC were "completely baseless."
"It is a completely baseless and malicious allegation. I completely deny any corruption," she said.
Mr Kejriwal had claimed that Ms Tandon and her late husband Sandeep Tandon had Rs.125 crore each stashed away in an HSBC Bank branch in Geneva. He also said that that Mr Tandon was an Indian Revenue Service officer and was in the Enforcement Directorate as well.
"Sandeep Tandon had raided Reliance as an income tax officer. Isn't it strange that he then went to work for the same company," Mr Kejriwal asked.
He also said that both sons of Ms Tandon work for Reliance.
"It is not right on the part of Kejriwal to make such loose comments," she said, adding that she would discuss the next course of action on the allegation with her two sons.
She also dismissed the claims of IAC that she was close to Congress general secretary Rahul Gandhi and was part of his core team.
"This claim is ridiculous. I am a member of parliament and a Congress member. Rahul ji and Sonia ji are my leaders. I am doing my job to the best of my ability in these capacities," she added.
(With IANS inputs)
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