Panaji, Aug 29: The investigation into the firing on casino businessman and Golden Peace Hospitality Pvt. Ltd. director Shrinivas P. Nayak at Porvorim has reportedly opened up a possible contract-killing or “supari” angle, with investigators suspecting that the shooters may have come from outside Goa.

 

Nayak escaped unharmed after two unidentified men allegedly opened fire at him on Friday night near the Majestic/Neo Majestic premises at Porvorim. Police are yet to trace the suspects, while an abandoned Goa-registered car has reportedly emerged as an important lead in the investigation.

Chief Minister Dr. Pramod Sawant said the government and police would show no leniency towards those responsible. He said the motive behind the firing would be established through the investigation and that instructions had been issued to arrest the suspects at the earliest.

Hotel Fidalgo Dispute Re-emerges

The attack has meanwhile brought renewed attention to Nayak’s business dealings, particularly the contentious Hotel Fidalgo property dispute in Panaji.

Golden Peace Hospitality, represented in court proceedings by Nayak as its authorised representative, had claimed rights over Hotel Fidalgo in a dispute involving Maberest Hotels Pvt. Ltd. and its then Managing Director Jayant Shetty.

On April 2, 2026, the Bombay High Court dismissed Golden Peace Hospitality’s appeal, holding that possession of the hotel, alleged payment of around 49.49 crore towards a bank liability and two unregistered MOUs did not confer any legal right, title or interest over the property.

The Court also examined a proposed 70-crore transaction involving Jayant Shetty and made strong observations that the circumstances prima facie indicated wrongful possession of the hotel, describing the alleged transaction as a “sham.” The appeal was dismissed with costs of 5 lakh.

Investigation Focus and Unanswered Questions

The shooting has therefore fuelled speculation over whether Nayak had developed serious business rivalries arising from his commercial disputes, including the Hotel Fidalgo litigation.

However, there is presently no evidence linking Jayant Shetty, Maberest Hotels or the Hotel Fidalgo dispute to the shooting. Police have not established the motive so far and are reportedly probing all angles, including business rivalry and the possibility of hired shooters from outside Goa.

The key questions now are who hired or sent the attackers, why Nayak was targeted and whether the motive lies in a business dispute or elsewhere.