Ness Wadia arrested for carrying drugs in Japan, sentenced to jail for 2 years
Ness Wadia– the heir to one of India’s oldest conglomerates – was reportedly arrested in Japanin March for possession of drugs.
- The reports say Wadia argued that the drug was for his personal use.
- Shares of the
Wadia Grouphave fallen by 17%, post his arrest.
AdvertisementThe heir to one of India's legacy businesses – Ness Wadia – has been arrested in Japan for alleged possession of drugs. Wadia, who is the heir to the 283-year old Wadia group has been arrested while on a skiing holidaying in Japan. He has been sentenced to jail for two years, according to Financial Times.
In early March, Wadia was arrested in the New Chitose Airport for the possession of cannabis.
Wadia has also confessed to the possession of drugs for personal use, according to reports.
The arrest of the business scion comes in the wake of Japan gearing up for Olympics 2020, where the country has become more stringent with its narcotics laws.
Post Wadia’s arrest, the shares of the Wadia group have fallen by 17%, according to reports. The Wadia group has reportedly said that Wadia is back in India.
Wadia is a director in majority of the companies of the group – which is the owner of Britannia industries and also runs the airline GoAir. He is also the co-owner of the IPL team
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