On Thursday Vijay Mallya , in an affidavit submitted in the SC explained that,  non-resident Indians (NRIs) are not obliged to disclose global  assets and that banks have no right over the information of his worldwide movable and immovable assets.

Mallya also sought permission to submit details of his assets in a sealed cover on 26 June.

Affidavit read as-"Statement of assets was confined to assets in India alone and overseas assets were not disclosed which as a Non-resident Indian, Respondent no 3 (Vijay Mallya) is not obliged to disclose even to income tax authorities in his Indian tax returns,"

According to a report, “he has submitted before the court that the information regarding the of assets, owned by him, his three children and estranged wife" were a private matter”

He added on saying that,”neither did the banks take into account the overseas assets when they did not extend loans to him, nor did he buy them using the loans. So there is no reason to put the details of these assets in the public domain.”

Apex court ordered Mr.Mallya to disclose his assets by April 21.

State Bank of India (SBI). Bank loans to Mallya had become NPAs in 2012. Two banks, SBI and PNB, had tagged Mallya as a wilful defaulter.

Mallya’s affidavit comes in the backdrop of the Enforcement Directorate seeking the help of ministry of external affairs (MEA) to arrest Mallya after a special court on Monday presented a non-bailable arrest warrant despite the Kingfisher chief. Currently, Mallya’s passport was suspended by MEA on the request of ED.

Vijay is the affidavit said that, “Kingfisher Airlines was a business failure due to reasons beyond control.”

It informed that,  "by way of loans, equity participation, liquidation of securities offered to creditors/lenders of Kingfisher Airlines aggregating to Rs 6,107.53 crores, all of which has been lost or is incapable of recovery."

Mallya futher said, “the recent actions of central govt confirm I am being "persecuted needlessly " and " wrongly prosecuted ".  He also said that he can pay token money only if SC intervenes in pending cases, can't pay until SC allows sale of shares stuck in litigation”

Mallya, meanehile, added“to demonstrate his bonafide and also that of his companies, an aggregate of Rs 1591 crores can be deposited before the apex court”

As per the estimates, “Mallya has a net worth of Rs 7,000 crore in India as of now. In 2011, Mallya had a net worth of $1.1 billion, according to Forbes. He dropped out of the Forbes billionaires list in 2012 as the net worth nosedived to around $800 million.”