Ness Wadia Row: Wadia Group releases statement, says jail sentence will not impact him
The Wadia Group has released a statement on Ness Wadia being sentenced to two years of jail in Japan.
Reports of business tycoon Ness Wadia being sentenced to two years of jail term in Japan surfaced on Tuesday. In March, Ness was reportedly arrested after he was found guilty of carrying 25g of Cannabis Resin. A Financial Times report suggests Ness admitted to carrying the drug and said it was meant for personal consumption. While Ness himself has not yet spoken to any media outlet, the Wadia Group, in an official statement, called it a 'suspended sentence'.
"The judgment is clear. It is a suspended sentence. Hence it will not impact Ness Wadia in the discharge of any of his responsibilities and he will continue to play the role that he has done hitherto, both within the Group and outside," the official statement read.
We hear Ness was on a skiing holiday in Japan and was arrested at the New Chitose Airport in the northern Japanese island of Hokkaido.
Ness, apart from serving as the Managing Director of Bombay Burmah Trading Company Limited, is also the Chairman of National Peroxide Limited and is on the board of directors for various companies under the Wadia Group. Soon after the news surfaced, shares of various Wadia group of companies, namely Bombay Dyeing & Mfg Co Ltd, National Peroxide, Bombay Burmah Trading Corp Ltd, witnessed a downfall of their share values.
In the past, Ness has been embroiled in various controversies, the most talked about one being that he allegedly assaulted former girlfriend Preity Zinta physically and verbally. Preity, who also filed a case against him in 2014, withdrew it after four long years, following an apology by Ness. They continue to co-own Indian Premier League team Kings XI Punjab.
We reached out to Preity for her comments on the ongoing controversy as well, but she is yet to respond to us.Read More