A bench of Justices Nariman and S Ravindra Bhat observed that Mallya has not deposited a single penny to the banks so far.
Mallya, who is currently in the UK, has been charged by the Enforcement Directorate (ED) with defaulting on bank loans to the tune of Rs 9,000 crore.
The lenders want to liquidate the assets to claim Rs 6,203.35 crore along with interest of 11.5 per cent per annum payable since 2013.
The court also heard that the banks do not accept the former Kingfisher Airlines boss' assertion that most of his assets are in India and to a lesser extent worldwide.
In its 27-page judgement granting bail to Chidambaram, the apex court said he is neither a "flight risk" nor is there a possibility of "his abscondence from the trial".
Mallya had cited the poor condition of the jails in India to avoid extradition and possibility of being lodged at this jail.
A counsel for Mallya appeared in the court on last Monday, as per the scheduled date of hearing, and sought some documents, officials said.
Rahul Gandhi says Indian prisons 'difficult places' but Vijay Mallya shouldn't be treated differently
Mallya last month appeared before a court in London where both defence and prosecution presented clarifications on Barrack 12 at Arthur Road Jail in Mumbai, where Mallya is to be held.
The High Court on Saturday directed the Official Liquidator (OL) to appear on Tuesday before the Appellate Authority, which is hearing appeals related to attachment of assets of fugitive liquor baron
The observation by the apex court assumes significance as Mallya's extradition proceedings are going on in London, has been raising the issue of alleged deplorable conditions in the Indian prison.
The new legislation will prevent big economic offenders like Vijay Mallya and Nirav Modi from fleeing the country and evading the law.
The UK has strong human rights laws, which make extradition of a person very difficult, and India is only among Category II countries under the UK's extradition laws.
UK court asks India to submit video of Mumbai jail cell; sets September 12 for hearing in Vijay Mallya extradition case
Mallya before entering the Westminster Magistrates' Court in London said that the allegations of money laundering & stealing money are completely false.
The 62-year-old former Kingfisher Airlines boss is fighting extradition to India on charges of fraud and money laundering amounting to around Rs 9,000 crores.
The matter is currently sub-judice at the Westminster Magistrate's Court in London, where hearing for final arguments on closing submissions of the case has been fixed on July 31, 2018.