He said Wadia used derogatory language against him and against Punjab police, in particular charging the police of selling tickets for the IPL matches in the grey market and also ignoring unauthorized entry of people into the stadium.
Khatra said Wadia not only shouted at him but also said he would not "speak to small and mean people like him".
The police official said Wadia insulted him in the presence of several people even as he tried to reason out the issue with him.
Wadia who owns the Mohali IPL team along with Bollywood actress Preity Zinta and two others, had a spat with Khatra Friday.
Wadia also charged policemen on duty at the pavilion of stealing several liquor bottles and Mohali team T-shirts.
In a related development, police sources confirmed that the Mohali police had recorded a complaint against IPL commissioner Lalit Modi for smoking at a public place in the stadium.