Home >News >India >Ness Wadia sentenced for drug possession in Japan: Report
Ness Wadia (file pic) (Mint)
Ness Wadia (file pic) (Mint)

Ness Wadia sentenced for drug possession in Japan: Report

  • According to a report in the 'Financial Times', Ness Wadia admitted to the possession of what appeared to be cannabis resin, arguing that the drug was for his personal use
  • The market valuation of the listed entities of the Wadia group stands at around $13.1 billion

New Delhi: Ness Wadia, son of industrialist Nusli Wadia and inheritor of one of India's wealthiest business families, has been sentenced for drugs possession while on a skiing holiday to Japan.

Financial Times reported that Ness Wadia, heir to the 283-year-old Wadia Group and co-owner of the Kings XI Punjab cricket team, was arrested in early March at the New Chitose Airport in the northern Japanese island of Hokkaido.

According to a brief report carried by a local Hokkaido station of state broadcaster 'NHK', customs officials at New Chitose were alerted by sniffer dogs and a search revealed that Wadia had about 25 grams of what appeared to be cannabis resin in his trouser pocket.

"Ness Wadia is in India. The judgement is clear. It's a suspended sentence. Hence it won't impact Ness Wadia in the discharge of any of his responsibilities," 'ANI' quoted the Wadia group spokesperson as saying.

The Wadia empire has many units, including Bombay Dyeing, Bombay Burman Trading, biscuit giant Britannia Industries to budget airline GoAir and a share in IPL franchise Kings XI Punjab, with the total market valuation of its listed entities standing at $13.1 billion.

A court official in Sapporo told the 'Financial Times' that Wadia admitted to possession, arguing that the drug was for his personal use.

Wadia spent a period in detention before his indictment on 20 March and an undisclosed period of detention before a court hearing.

The Sapporo District Court handed him a two-year prison term, which was suspended for five years.

Shares of Wadia group companies dropped on Tuesday after the report. Bombay Dyeing & Mfg Co Ltd dropped 10.1% on the BSE, while National Peroxide slipped 5.1%. Bombay Burmah Trading Corp Ltd was down 3.6% and Britannia Industries fell 2.6%.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed

Subscribe to newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperLivemint.com is now on Telegram. Join Livemint channel in your Telegram and stay updated

My Reads Redeem a Gift Card Logout