A late-night celebration at sea turned into a dangerous race — and then a desperate search — off the coast of Keyodhoo.

A racing speedboat, linked to a yacht owned by Indian billionaire Gautam Singhania, capsized after being driven at high speed while reportedly racing and drifting following a party on board the yacht.

The vessel, carrying seven passengers — including one British woman, one Russian woman, and five Indian men — was travelling at speeds of up to 72 miles per hour when the incident occurred late Thursday night.

In the dark and at high speed, control was lost, and five passengers were thrown into the sea.

While several were rescued, two Indian men remain missing as search efforts continue.

Preliminary findings indicate that the boat was being operated by Singhania himself, and that he may have been under the influence of alcohol at the time, though this has not yet been officially confirmed.

Singhania was also injured and received treatment at a hospital in Felidhoo before being discharged within hours.

The Maldives Police Service has launched an investigation, while the Maldives National Defence Force continues search operations, with aerial support deployed as the race against time to find the missing men intensifies.