62-year-old Gupta appeared in Manhattan federal court but it was not immediately known what charges have been slapped against him by the prosecutors.
Gupta, who has not been indicted in the criminal trial of Galleon Group founder Raj Rajaratnam, faces civil charges from the Securities and Exchange Commission for allegedly passing confidential information about Goldman Sachs to the defendant.
Former Goldman Director Rajat Gupta, the poster boy of Indians at the Wall Street, was on Friday found guilty of illegally tipping off his friend Raj Rajaratnam of confidential market information, in one of America's biggest insider trading cases.
According to the Notice of Appeal filed by his lawyer Gary Naftalis in US District Court Southern District of New York, Gupta's "appeal concerns conviction only."
No one knows what Rajat Gupta gained from leaking insider information to Raj Rajaratnam. The irony is that he did not make any money.
The prosecution and defense presented their closing arguments in the high-profile insider trading trial of Gupta in Manhattan federal court on Wednesday.
The defence on Monday presented in Manhattan federal court character witnesses, who testified about Gupta's honesty and integrity, before it prepares to wrap its case by Wednesday.
The trial of Gupta, one of the most high profile Wall Street executives to be charged with insider trading, began in US District Court, Southern District of New York on Monday amid intense media glare.
The former employer incurred the amount as legal expenses during the trial.
The SEC however added that "dismissing these proceedings will not prevent the Commission from filing an action against Gupta in United States District Court."
Testifying for the government on the eighth day of 63-year-old Gupta's insider trading trial yesterday, former marketing executive at Sri Lankan native Rajaratnam's Galleon hedge fund Ayad Alhadi disclosed that Gupta had been secretly serving as a Galleon executive.
Will Judge Jed Rakoff be swayed by the former Goldman director's influential well-wishers or will he deliver stiffer punishment?
A US court has agreed to hear next week a bid by India-born former Goldman Sachs Director Rajat Gupta to delay his surrender to federal prison and remain free on bail while he challenges his conviction on insider-trading charges.
Goldman Sachs' director Rajat Gupta tipped off Raj Rajaratnam, an accused in insider trading scam, about a deal between Buffett-led Berkshire Hathaway and the Wall Street giant, before the public announcement.
Rajat Gupta, former director of Goldman Sachs and Mckinsey, has resigned from the board of the Hyderabad-based Emergency Management Research Institute (EMRI), a public-private-partnership initiative being run by the GVK group.
According to the email, Kumar said, "When with Mukesh on portfolio question. . . 2 things to explore: A) Raj wants to know if they will get into the solar biz aggressively and when (there are implications for supplier companies etc)."
Sixty-five-year-old Gupta will serve his jail term at a minimum security satellite camp of the Federal Medical Center-Devens in Ayer, Massachusetts.
The move came two days after the lawyer said it was 'highly likely' that Gupta would take the witness stand in his trial.
India-born former Goldman Sachs director Rajat Gupta has asked a US court for a new trial to reverse his conviction on insider trading charges, arguing that the district judge had committed "serious evidentiary errors" that tipped the scales decisively in the case.
Gupta, 63, read from a prepared statement for six minutes before being sentenced.
The trial of former Indian-American Goldman Sachs director Rajat Gupta began in New York on Monday in what is the most high profile case of insider trading in US history.
US regulator SEC has asked an appeals court to affirm a district court's decision that India-born former Goldman Sachs director Rajat Gupta pay a $13.9 million penalty and be banned for life from serving as director of a public corporation.
Rajat Gupta was convicted in 2012 of passing illegal tips about Goldman Sachs to Galleon Group founder Raj Rajaratnam.
Seth Waxman, lawyer for Gupta, told the 2nd US Circuit Court of Appeals in New York on Tuesday that wiretaps played for the jury were inadmissible because they amounted to hearsay evidence.
On the fourth day of the trial on Thursday, the jury was shown details of phone conversations from September 2008 in which Rajaratnam brags about getting information on Goldman.
The two bigger takeaways from this case for Indian regulators and enforcement agencies are the speed and efficiency with which it was concluded.
Sixty-three-year-old Gupta's trial, which began in Manhattan federal court on May 21, will resume today after a weekend break with his protege and former McKinsey executive Anil Kumar returning to the witness stand to testify against him.
Court is expected to hear Gupta's appeal around April and it could be a year before his request to overturn his conviction is ruled upon.
Showing lenience and also appreciation for his humanitarian work, Judge Jed S Rakoff of the Federal District Court in Manhattan handed a two-year prison term to Rajat Gupta, former head of McKinsey and Co and also a former director of Goldman Sachs and Proctor and Gamble for leaking insider information.
In its complaint filed in 2011, the SEC alleged that Gupta disclosed confidential information about Berkshire Hathaway Inc's $5 billion investment in Goldman Sachs
US District Judge Jed Rakoff had set as October 18 the date for sentencing Gupta after the ex-McKinsey head was found guilty by a jury here of passing confidential company information to Rajaratnam.
Former Indian American Goldman Sachs director Rajat Gupta is facing trial in one of the most high profile cases of insider trading in the US that will likely see investment guru Warren Buffet and Arcelor Mittal Chairman Lakshmi Mittal as potential witnesses.
The Gupta case is SEC v. Gupta, US District Court, Southern District of New York, No. 11-07566.
Rajat Gupta was freed from Federal Medical Centre Devens, a federal correctional facility in Ayer, Massachusetts, on January 5.
He is expected to be assigned to a medium-security prison in Otisville, New York, about 70 miles from New York City.
Gupta, 65, reported to the minimum security satellite camp at FMC Devens in Ayer, Massachusetts on June 17.
Rajat Gupta, one of the most successful Indian Americans on the Wall Street, was on Friday found guilty of passing confidential market information to Galleon hedge fund founder Raj Rajaratnam, in one of America's biggest insider trading cases.
Gupta's lawyer Seth Waxman argued his case during a hearing before a three-judge panel of the 2nd US Circuit Court of Appeals in New York on Monday.
Rajat Gupta's lawyer Rishi Bhandari said suit was filed in order to ensure that there was a designee on the board.
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