Wadia, who is a director of all the major units of the family group, was arrested in early March at New Chitose Airport in the northern Japanese island of Hokkaido. Customs officials at New Chitose were alerted to Wadia by sniffer dogs and a search revealed that he had about 25g of what appeared to be cannabis resin in his trouser pocket, a report by Financial Times (FT) said. READ BUSINESS STANDARD'S FULL REPORT
The newspaper quoted a court official in Sapporo that Wadia admitted to possession, arguing that the drug was for his personal use. He spent a period in detention before his indictment on March 20 and an undisclosed period of detention before a court hearing. The Sapporo District Court handed him a two-year prison sentence, which was suspended for five years.
At 11:33 AM, Bombay Dyeing was trading at Rs 111.55, down 10.62 per cent, while Bombay Burmah had slipped over 2 per cent at Rs 1245. National Perioxide also slipped over 4 per cent to Rs 2,687.70. In comparison, the S&P BSE Sensex was trading at 38,912, down 155 points, or 0.40 per cent.