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Kingfisher Villa renamed King's Mansion: Goa property once owned by absconding Vijay Mallya gets new owner

The villa, when owned by Mallya, has hosted some of the most extravagant parties, before the liquor baron, who owes banks thousands of crores fled the country.

Reported by: IANS, Panaji [ Updated: December 15, 2017 19:58 IST ]
Kingfisher Villa

The iconic 'Kingfisher Villa', formerly owned by absconding tycoon Vijay Mallya was on Friday renamed 'King's Mansion' by its new owner, Sachiin Joshi, who also operates a liquor manufacturing business, whose products include "King's beer".

"For months now, I have been asked about my plans for the villa. 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," Joshi told reporters here, after unveiling the plaque outside the massive villa, located in Candolim beach village, which is around 20 km from Panaji.

"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 added.

Joshi, who also operates hospitality businesses, including some in Goa, also said that there are more glamorous plans for the villa, which has hosted A-list celebrities at dos hosted by its former owner, Mallya.

"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 said.

The villa, when owned by Mallya, has hosted some of the most extravagant parties, before the liquor baron, who owes banks thousands of crores fled the country.

Joshi bought the Kingfisher Villa for Rs 73 crore in an auction conducted by the consortium of banks led by State Bank of India, to whom Mallya owed money.

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