One person was killed and 24 others were rescued Wednesday after a speed boat carrying them capsized in India's western state of Maharashtra, police said.

The boat belonging to local government capsized off coast near Shivaji Smarak in Mumbai, the capital city of Maharashtra.

According to officials, the boat was ferrying senior government officials and media persons.

"One body was fished out, while as 24 people were rescued safely by Indian coast guard personnel," a police official said. "The boat capsized after hitting the rocks this evening."

Following the boat capsize, coast guard personnel rushed rescue boats and helicopters to the spot to carry out rescue efforts.