Wadia Group shares slip after Ness Wadia's sentencing in Japan

Bombay Dyeing slumped 17.4 per cent to Rs 103 per share on the BSE, while National Peroxide slipped 5.3 per cent to Rs 2,660. Bombay Burmah was down 6 per cent to Rs 1,193

Shares of Wadia Group companies plunged up to 17 per cent after reports emerged that the group's heir Ness Wadia has been sentenced to a two-year jail term in Japan for possession of drugs.

Bombay Dyeing slumped 17.4 per cent to Rs 103 per share on the BSE, while National Perioxide slipped 5.3 per cent to Rs 2,660. Bombay Burmah was down 6 per cent to Rs 1,193.

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