"I have said this ad nauseam. My assets are all duly accounted for and disclosed in all statutory filings. I have contested two elections, one successfully. I am obligated to publicly declare my assets and I have done so," Karti Chidambaram said in a statement.
"If the agencies, including the IT Department, had proof of 'undeclared assets' or 'undisclosed sources of income', they could have easily proceeded against me under the relevant provisions of law.
"Let me remind you that I am liable for disqualification from Parliament if I have misstated my assets," he said.
Sarcastically, he called himself a "Politically Exposed Person".
"The level of scrutiny that I have to go through to open bank accounts and transact business is onerous. There is absolutely no way that I could hold assets without provenance of source of funds.
"So, I ask TV anchors to be a bit more tempered in their coverage of 'stories' about my 'global wealth'.
Meanwhile, his advocate Arshdeep Singh Khurana has expressed shock over alleged leaks that have led to speculation in sections of the media about the Chidambarams' undeclared wealth.
"This seems to have been leaked with a view to sensationalise the matter and prejudice my client in the hearing scheduled before the Supreme Court tomorrow (Wednesday).
"We do not know even the sanctity of the affidavit and whether the same would be filed tomorrow. This seems to be an attempt to conduct a trial by media."
Khurana asserted that Karti Chidambaram did not own any property or had any bank account abroad.
ED sources have said they had reasons to believe that the money with which the property abroad was purchased allegedly came from the bribe in the INX Media deal, the case in which Chidambaram senior is embroiled.
( With inputs from IANS )