
Who Owns Vijay Mallya's Kingfisher Villa In Goa? It Has A Bollywood Connection
Liquor baron and fugitive Vijay Mallya never really went out of the newscycle and now former owner of the defunct Kingfisher Airlines is dominating headlines following his lengthy conversation with podcaster Raj Shamani.
Mallya, who is wanted in India for alleged loan defaults and is currently based out of the UK, once owned the lavish Kingfisher Villa in Goa, among many several properties, where he hosted many high-profile parties in his heyday as the 'King of Good Times'.
The villa is spread over 12,350 square feet (three acres) at the Candolim beach village in North Goa, which is around 20 km from Panaji and on the way to Fort Aguada. It was legally owned by United Breweries Holdings (UBH), the parent company of the Kingfisher Airlines.
After Mallya defaulted on his loans and fled the country in 2016, the Kingfisher Villa was sold to Bollywood couple, actor-producer Sachiin Joshi and his wife, actor Urvashi Sharma of Naqaab film fame for Rs 73.01 crore the next year.
View this post on Instagram
A post shared by Urvashi Sharrma (@urvashiamrrahs)
Joshi, whose film credits include Mumbai Mirror and Jackpot, in which he co-starred with Sunny Leone, also runs Viiking Ventures. According to the businessman's official website, the company dabbles in different verticals such as FMCG products (alcoholic, non-alchoholic beverages), hospitality, entertainment, realty, infrastructure paper products and philanthropic activities.
In 2017, Joshi bought the Kingfisher Villa in an auction conducted by the consortium of banks led by the State Bank of India, to whom Mallya owed money. The bankers had initially set the price of the villa at over Rs 90 crore for auction.
Joshi, whose liquor manufacturing business sells products including Kings Beer, later renamed the Kingfisher Villa to 'King's Mansion'.
The businessman had opened up about his plans for the property when he unveiled the plaque of the massive villa rechristened as King's Mansion.
"Today is the day I open the gates to the world. The property has been coronated as the 'King's Mansion' and the future plans have been drawn. We had multiple names to dabble, but then the brand connection from 'Kings Beer' and the inherent grandeur of the property made the choice," he said.
"We have some interesting plans for the place. But the innate point of anything we do here would be to create an experience like no other. The place would denote class and something that's never been done in India before," he added.
Joshi himself acquired the Goa-based Kings Beer from Impala Distillery and Brewery for Rs 90 crore back in 2015.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Time of India
an hour ago
- Time of India
Air India crash set to trigger over Rs 1,000 crore insurance claims
MUMBAI: The crash of an Air India Boeing 787 Dreamliner in Ahmedabad has set off what may become India's costliest aviation insurance claim, with potential liabilities crossing Rs 1,000 crore, which is more than the total annual premium for the country's aviation sector. Tired of too many ads? go ad free now While the aircraft's age may help contain hull loss, the crash, which reportedly killed over 240 people and caused collateral damage on the ground near the airport, is expected to result in significant liability payouts. Air India has insured its fleet through a $20-billion aviation programme. Hull and liability coverage are split, with Tata AIG, a group company, underwriting part of the risk alongside other domestic insurers. The reinsurance structure is led by a global consortium including AIG, with participation from public sector entities such as New India Assurance and GIC Re. Shares of both fell following the incident by 4% and 3%, respectively. Amit Agarwal, CEO and MD at Howden India, said that aircraft damage would be covered under the aviation hull all-risk section, which insures the current valuation of the aircraft, including spares and equipment. The Dreamliner involved (registration VT-ABN), delivered in 2013, was insured for approximately $115 million in 2021. "Whether the damage is partial or total, the loss would be covered based on the value declared by the airline. " While the hull loss is substantial, liability claims are expected to be larger. "The liability section which is likely the most significant component of the loss, could amount to millions of dollars," said Agarwal, referring to passenger deaths and potential third-party claims from the crash site. Tired of too many ads? go ad free now Under the Montreal Convention of 1999, compensation to passengers is calculated in Special Drawing Rights (SDRs), with a current value of 1,28,821 SDRs, or roughly $1,71,000 per passenger. Further clarity came from Hitesh Girotra of Prudent Insurance Brokers, who estimates the hull value at around $75-80 million. "The liability on the operator will have multiple angles," he said. "The nationality of the passengers will determine the minimum liability under the Montreal Convention. "Additionally, there is third-party property damage liability, and possibly loss of civilian lives where the aircraft crashed." The scale and complexity of the claim reflect the evolving nature of aviation insurance. Narendra Bharindwal, president of the Insurance Brokers Association of India, offered a broader context: "Insurance coverage for large commercial aircraft such as the Boeing 787 is substantial and structured globally." He added, "Hull values can range between $200-300 million and liability cover for international routes often exceeds $500 million. " Air India's aviation programme, like others of its size, is reinsured across global markets. No single insurer bears the entire risk.


Indian Express
4 hours ago
- Indian Express
India's first international fishery tech expo opens in Mumbai, over 6,000 visitors on day 1
India's first-ever International Fishery Tech Expo (IFT Expo 2025) was inaugurated in Mumbai on Thursday in a significant move towards upgrading the fisheries industry. On the first day, over 6,000 trade visitors visited the stalls of over 55 exhibitors from all over India and abroad that showcased recent advancements in fisheries technology. Maharashtra Ports Development Minister Nitesh Narayan Rane launched the three-day event. Dignitaries, including Kishor Tawade, Maharashtra's Commissioner of Fisheries, and officials from Gujarat, Karnataka, and Goa's fisheries departments were present on the occasion. Rane stated, 'This is a world-class platform that brings together technology, policy, and potential — all under one roof. Maharashtra is committed to becoming one of the top five states in fisheries, and events like this are essential to accelerating that journey'. He also emphasized Maharashtra's focus on the application of drones for coastal security and to expedite fisheries development schemes under the leadership of Chief Minister Devendra Fadnavis. The expo is being held at a time when the Union Budget has provided a historic Rs 2,703 crore for the fisheries sector in the 2025-26 fiscal, indicating a powerful thrust towards a tech-friendly 'Blue Economy.' Dr Sreenath K R, Director General of Fisheries Survey of India, said, 'India's fisheries sector is making global waves—exporting to over 130 countries and powered by transformative investments in infrastructure and innovation. Such expos are necessary to drive innovation and align with the Prime Minister's vision for sustainable, tech-driven growth.' IFT Expo 2025 features live exhibits and top-level conferences on issues such as smart aquaculture systems, AI-driven water quality monitoring, innovative aquafeeds, cold chain and refrigeration, and sustainable packaging. Exporters, researchers, fish farmers, policy-makers, and start-ups participated in serious discussions to frame the future of the fisheries industry. The expo seeks to create new partnerships, stimulate investments, and provide an avenue for knowledge-sharing.


Time of India
4 hours ago
- Time of India
Chanel's global CEO Leena Nair becomes a beacon of inspiration at Windsor Castle; here's why
(Image Credits: Instagram The iconic luxury brand Chanel has stood as the epitome of fashion and one of the pillars of the glam world for years. Standing the test of time with its revolutionary designs and enduring influence in the vogue world, it was founded by Coco Chanel in 1910 in Paris. From creating a timeless 'Little Black Dress' to the 'Tweed Suit' drama, the brand has championed chic designs and has supremely maintained its legacy in the market. Passing down her innovative business strategies and striking ideas, the current global CEO of Chanel is living proof of understanding the brand's legacy and has touched some new milestones. Chanel's global CEO, Leena Nair, recently received the prestigious Commander of the Order of the British Empire from Prince William. (Image Credits: Instagram) Who is Leena Nair ? Known for her exemplary contributions to business and leadership on such a global scale, it is a personal victory for her and all the Indians out there. Indian-origin Leena Nair made history as the first female Asian and the youngest-ever CEO of Chanel to get this honour at a royal ceremony in the United Kingdom. Born in Kolhapur, Maharashtra, she became a beacon of inspiration and is known for delivering a holistic business impact for the long term at Chanel. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Discover Effortless Glucose Monitoring: Request a Free Trial Dexcom Click Here Undo Under her leadership and values, the brand has continued to drive its excellence, reach a better clientele, and also focus on sustainability commitments. 5 street fashion trends that have been making waves in India She is the former Chief Human Resources Officer at Unilever and has a career span of more than a decade. A passionate advocate for diversity and inclusion, she is currently appointed at Chanel, marking her swift yet bold shift towards the segment of luxury, which speaks about heritage and innovation. (Image Credits: Getty Images) Her recognition by the British royal family stands as a proud moment for the Indian diaspora and women across the globe, highlighting how leadership rooted in empathy, resilience, and purpose can leave an indelible mark on the world. Why is the CBE award so important? The CBE, or Commander of the Order of the British Empire, is one of the highest-ranking British orders of chivalry. It is given to individuals who have made a significant contribution to society in the segment of charity, arts, public service, or scientific research. Leena Nair's recognition by the British royal family stands tall and is a proud moment for the Indian diaspora and women across the world. She has meticulously highlighted her leadership notes, rooted in purpose, empathy, and resilience. One step to a healthier you—join Times Health+ Yoga and feel the change