Scion of one of India’s wealthiest businessmen gets 2-yr jail term in Japan over drugs
Scion of one of India’s wealthiest businessmen gets 2-yr jail term in Japan over drugs
Indian businessman Ness Wadia, son of business tycoon Nusli Wadia, has been sentenced to undergo two years imprisonment for drugs possession in Japan on Tuesday. He was reportedly spending his skiing holidays in Japan. The Japan police arrested him with 25 grams of cannabis resin in his trouser pocket.
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Scion of one of India’s wealthiest businessmen gets 2-yr jail term in Japan over drugs[/caption]
Heir to the 283-year-old Wadia Group and co-owner of the Kings XI Punjab cricket team was arrested in early March at New Chitose Airport in Northern Japan. According to media reports, Ness Wadia has admitted to the possession. He said that the drug was for his personal use.
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Scion of one of India’s wealthiest businessmen gets 2-yr jail term in Japan over drugs[/caption]
After Ness Wadia's sentencing, the shares of the Wadia Group have fallen by 17 per cent. The shares of Bombay Dyeing, Bombay Burmah and National Peroxide fell by 17%, 6% and 5% respectively.
-PTC NEWS
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