Vijay Mallya, once India's flamboyant "Good Time King," a name synonymous with opulent living and business ventures spanning liquor, airlines, and sports, has seen his fortunes dramatically shift. His story, a blend of entrepreneurial success and eventual downfall, recently resurfaced when his former IPL team, Royal Challengers Bangalore, secured their maiden trophy, prompting Mallya to offer his congratulations from abroad. However, beyond the sporting triumphs, lies the tale of his seized assets, most notably the iconic Kingfisher Villa in Goa, which has now found a new owner in a Bollywood actor, adding an intriguing chapter to its storied past.
Spread over an impressive 12,350 square feet, the luxurious villa went under the hammer in 2017. What followed was not just the end of a chapter for Mallya, but the beginning of a new one for the property, now infused with a touch of Bollywood glamour. The villa was acquired by actor and businessman Sachin Joshi, who, along with his actress wife Urvashi Sharma, successfully bid Rs 73.01 crore for the magnificent estate. The couple subsequently rebranded the property as "Kings Mansion," a name inspired by Sachin Joshi's own beer brand, Kings Beer, which is part of his diverse business empire, Viking Ventures. Sachin's father, Jagdish Joshi, heads the JMJ Group of Industries, a prominent player in the liquor and real estate sectors.
Sachin Joshi, who debuted in Bollywood with 'Aazaan' in 2011 and later appeared in films like 'Mumbai Mirror' and 'Jackpot', also ventured into Telugu cinema with 'Nee Jathaga Nenundali'. His wife, Urvashi Sharma, has graced the silver screen in movies such as 'Naqab' and 'Khatta Meetha' and was a finalist on the first season of 'Khatron Ke Khiladi'. While Urvashi has since stepped away from the limelight to focus on family life, both Sachin and Urvashi continue to lead a grand and luxurious existence, now as the proud owners of a property that once epitomized the "Good Time King's" reign. The Kingfisher Villa's transformation into Kings Mansion truly marks a new era for this iconic Goan landmark.
In a revealing episode of the ‘Vijay Mallya Podcast: Rise & Downfall Of Kingfisher Airlines, Loans & RCB’, fugitive businessman Vijay Mallya opened up about his prolonged legal battle and financial disputes with Indian banks. Mallya claimed that between 2012 and 2015, he made four different settlement offers to banks following the collapse of Kingfisher Airlines. However, he said none were accepted.
“It was always my intention to settle. Never did I say I didn’t want to pay,” Mallya told podcast host Shamani. He also revealed a meeting with the then chairperson of the State Bank of India (SBI), where he proposed a settlement. “They wanted Rs 14,000 crore which is why they didn’t accept,” he stated, referring to the amount demanded by the banks.
Earlier in February, Mallya approached the Karnataka High Court, seeking transparency in the loan recovery process pursued by the banks. His counsel, senior advocate Sajan Poovayya, argued that despite Mallya repaying approximately Rs 6,200 crore, the banks had already recovered Rs 14,000 crore. Mallya has asked for a comprehensive statement from the banks, detailing the total recovered amount and the current status of dues.
Mallya, once dubbed the "King of Good Times," continues to face serious legal charges in India, including cheating, conspiracy, and money laundering. His defunct airline, Kingfisher Airlines, and holding company, United Breweries (Holdings) Limited, remain under intense scrutiny for alleged financial irregularities and violations of regulatory norms.
While the podcast sheds light on Mallya's version of events, Indian authorities and banks remain firm in their pursuit of justice and full recovery of dues. The saga surrounding Mallya is far from over, as legal proceedings and extradition efforts continue.
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