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This article is more than 2 year old.

Britannia Industries seeks legal advice on Ness Wadia's role in Wadia Group, says report

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Independent directors of Wadia Group's Britannia Industries have sought an external legal opinion over the continuation of Ness Wadia as the director of the company after his conviction in Japan over drug possession, The Economic Times reported.

Britannia Industries seeks legal advice on Ness Wadia's role in Wadia Group, says report
Independent directors of Wadia Group's Britannia Industries have sought an external legal opinion over the continuation of Ness Wadia as the director of the company after his conviction in Japan over drug possession, The Economic Times reported.
The board has tapped retired Supreme Court chief justice TS Thakur for the opinion, the report said citing people with knowledge of the matter.
The development comes despite Chairman Nusli Wadia presenting the board with an opinion from Supreme Court Justice Fali S. Nariman that had endorsed his son staying on as director, the report said.
The heir apparent, Ness Wadia, was not present during the meeting when the board conferred on the issue but attended the rest of the meeting, the report added.
Ness Wadia, the scion of one of India’s richest business families, has been sentenced for drug possession by a Japanese court, according to a report by The Financial Times. He has been handed a two-year prison sentence, suspended for five years, after 25 grams of marijuana was found on him at the New Chitose Airport in Hokkaido, Japan.
 
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