The AAP also said it was not averse to accepting donations towards party fund from the corporate behemoth if there was "no quid pro quo" involved.
"Mukesh Ambani's KG basin scam is one of the biggest scams in the country's history and much bigger than the Bofors scam," AAP leader Yogendra Yadav alleged, adding, "It is surprising that Narendra Modi and Bharatiya Janata Party have kept mum on the issue."
Yadav was talking to reporters at the party office in suburban Chakala here.
"Registering FIR against Mukesh Ambani was the breaking point which made Congress and Bharatiya Janata Party to realise that we were firm on implementing our poll agenda," Yadav said.
The objective of AAP is to be an alternative to people of country and not a substitute like Congress, Bharatiya Janata Party or Third Front which are part of the existing political system, he said.
Asked if AAP will accept party funds from Mukesh Ambani's company, Yadav said, "the political affairs committee of AAP decides on matters where the contribution is more than 10 lakh. The main issue is there should be no quid pro involved, he said.
On Mukesh Ambani, Yadav said, "I know he is a recognised leader but about his being revered, I am hearing the expression for the first time. One will have to check what the industry feels on this attribute."
To a query on the quantum of seats AAP will contest in ensuing Lok Sabha polls, Yadav said, "We have never said we will contest a specific number of seats".
Asked if Arvind Kejriwal will contest Lok Sabha polls, Yadav said, "that will depend on many things like timing of Assembly polls. However, I can say that we will fight LS polls under his leadership."
On AAP government failing to implement its poll promises in Delhi, Yadav came out with a counter, claiming that Narendra Modi had promised to build 50 lakh houses in Gujarat but not a single house has been built.
He also criticised the blackout of TV proceedings in Lok Sabha on Telangana bill.
Saying that AAP doesn't share the same ideological or political space with Left, Yadav described the Third Front as "opportunists coming together".
Yadav accused Nitin Gadkari of being involved in corruption and said AAP had asked activist Anjali Damania to contest against the BJP leader.
"It was not Damania who said she wants to contest from Nagpur, but we asked her to do so," he said.
On media reports about AAP leader Shazia Ilmi contesting against Sonia Gandhi, Yadav said, "As of now, the party has not taken any such decision...the names you mention aren't there. Some things are in the realm of speculation."