A multinational company accused in the Dáil this week of engaging in a "legal swindle" to acquire State-owned land has "strenuously" denied the allegation and asked for it to be withdrawn.
General Electric said the claim by Socialist Party TD Joe Higgins was totally unfounded and damaging to the company.
Mr Higgins told the Dáil on Wednesday that the General Electric company, "a partner of Gama, in Clonshaugh in north Dublin, sets up puppet companies so that it can set about a legal swindle to compel the IDA to pay it millions of euro for land belonging to the Irish people.
"It uses the proceeds of this sale to finance its puppet diamond innovations, to force a redundancy deal on 50 workers, whom it bullies and pressurises into accepting, so it can replace them with cheap labour for its industrial diamond enterprises," Mr Higgins said.
In a statement responding to the allegations, General Electric said it strenuously denied having any involvement in any deal in relation to property in the IDA's Clonshaugh industrial estate.
It said the General Electric company referred to by Mr Higgins had been sold by GE in December 2003.
"GE holds no interest in the property to which he referred.
"This is a totally unfounded and damaging allegation made under the privilege of the Dáil. GE calls on Deputy Higgins to withdraw it immediately and to correct the records of the House," the statement said.