Business tycoon, Ness Wadia, owner of IPL team Kings XI Punjab had been sentenced to two-year prison term for possession of drugs in Japan. The sentence however has been suspended for five years. According to reports Wadia was found in possession of 25 gm of cannabis resin in March.
Ness Nusli Wadia is an Indian businessman. He is part of the Wadia family, where his parents and several family members are all influential people. He is also the great grandson of the founder of Pakistan, Muhammad Ali Jinnah—thus making him a direct descendant of Jinnah.
Wadia is the Managing Director of Bombay Burmah Trading Corporation, a company which has holdings in most of the Wadia Group subsidiaries, including an indirect majority stake in Britannia Industries. He was the Joint Managing Director of Bombay Dyeing, the flagship company of the Wadia Group, till March 2011 when he stepped down from the post. Wadia is a co-owner of the Indian Premier League cricket team Kings XI Punjab.
A report in Financial Times states that Ness Wadia was arrested for possession of drugs in Japan in March. He was found in possession of drugs at the New Chitose Airport in Hokkaido. The report further states that at the time of arrest, Wadia admitted to possessing cannabis, which he added was for personal consumption.
Wadia spent a period in detention before his indictment on March 20. He also spent an undisclosed period of detention before a court hearing.
Ness Wadia is the son of Nusli Wadia and the heir to the business empire, the Wadia Group. He created headlines around 2005 for dating Bollywood actor Preity Zinta. They both are co-owners of Kings XI Punjab as well. The shares of Bombay Dyeing stand at Rs 111.80 down by -10.42%.
