An Indian billionaire is under investigation in Italy after his Lamborghini crashed into a Ferrari during a supercar tour on Sardinia, leaving two people dead, police said Thursday.

Vikas Ranvir Oberoi was driving the car accompanied by his wife Gayatri Joshi, a model and actress, when the crash occurred Monday in southern Sardinia, an official from the carabinieri told AFP.

"The vehicle was travelling at high speed and overtook on a narrow road where it was not permitted and did not notice a vehicle coming from the other lane," the official said.

According to a video filmed from a car on the road behind and published by local media, the Lamborghini and the Ferrari were travelling in convoy with several other supercars.

Several overtook a van in front of them but when the Lamborghini pulled out, it hit the Ferrari coming up behind.

The Ferrari crashed and caught fire, causing the deaths of a Swiss couple inside, both in their 60s, according to media reports.

The Indian couple were not seriously hurt.

Oberoi was named as a suspect as investigators probe a potential double road homicide, the carabinieri official said.

The tycoon runs Oberoi Realty, known for constructing high-end suburban condominiums in Mumbai and is worth $3.7 billion, according to Forbes' real-time list.

His wife is best known for her sole Bollywood credit for 2004 film "Swades", in which she played the love interest of megastar Shah Rukh Khan.

They have been married since 2005 and have two children.