{"id":4942,"date":"2019-04-30T08:37:39","date_gmt":"2019-04-30T08:37:39","guid":{"rendered":"http:\/\/financeintellect.com\/home-page\/home\/?p=4942"},"modified":"2019-04-30T09:19:09","modified_gmt":"2019-04-30T09:19:09","slug":"ness-wadia-to-spend-two-years-in-jail-for-illegal-possession-of-drugs-in-japan","status":"publish","type":"post","link":"https:\/\/financeintellect.com\/home-page\/home\/ness-wadia-to-spend-two-years-in-jail-for-illegal-possession-of-drugs-in-japan\/","title":{"rendered":"Bombay Dyeing scion Ness Wadia arrested for possessing drugs, stock tumbles"},"content":{"rendered":"<p style=\"text-align: justify;\">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.<\/p>\n<p style=\"text-align: justify;\">Ness Nusli Wadia\u00a0is an\u00a0Indian\u00a0businessman. He is part of the\u00a0Wadia family, where his parents and several family members are all influential people. He is also the great grandson of the founder of\u00a0Pakistan,\u00a0Muhammad Ali Jinnah\u2014thus making him a direct descendant of Jinnah.<\/p>\n<p style=\"text-align: justify;\">Wadia is the Managing Director of\u00a0Bombay Burmah Trading Corporation, a company which has holdings in most of the\u00a0Wadia Group\u00a0subsidiaries, including an indirect majority stake in\u00a0Britannia Industries.\u00a0<sup id=\"cite_ref-Bombaydyeingchange_1-0\" class=\"reference\"><\/sup><sup id=\"cite_ref-Wadiagroupreshuffle_2-0\" class=\"reference\"><\/sup>He was the Joint Managing Director of\u00a0Bombay Dyeing, the flagship company of the\u00a0Wadia Group,\u00a0<sup id=\"cite_ref-Nessbio_3-0\" class=\"reference\"><\/sup><sup id=\"cite_ref-4\" class=\"reference\"><\/sup>till March 2011 when he stepped down from the post. Wadia is a co-owner of the\u00a0Indian Premier League\u00a0cricket team\u00a0Kings XI Punjab.<\/p>\n<p style=\"text-align: justify;\">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.<\/p>\n<p style=\"text-align: justify;\">Wadia spent a period in detention before his indictment on March 20. He also spent an undisclosed period of detention before a court hearing.<\/p>\n<p style=\"text-align: justify;\">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\u00a0<span id=\"Bse_Prc_tick\">111.80 down by\u00a0<\/span>-10.42%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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\u00a0is an\u00a0Indian\u00a0businessman. He is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4943,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8],"tags":[3794,3793,3795],"class_list":["post-4942","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-india-inc","tag-drug-possession","tag-ness-wadia","tag-wadia-group"],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bombay Dyeing scion Ness Wadia arrested for possessing drugs, stock tumbles - Finance Intellect<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/financeintellect.com\/home-page\/home\/ness-wadia-to-spend-two-years-in-jail-for-illegal-possession-of-drugs-in-japan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bombay Dyeing scion Ness Wadia arrested for possessing drugs, stock tumbles - Finance Intellect\" \/>\n<meta property=\"og:description\" content=\"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\u00a0is an\u00a0Indian\u00a0businessman. 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