Bharti Infratel plans to raise Rs 4,500 cr through its IPO.
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.
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.
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)."
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."
The 15-page judgment is amazingly lucid, elegant and balanced.
Gupta, 63, read from a prepared statement for six minutes before being sentenced.
No one knows what Rajat Gupta gained from leaking insider information to Raj Rajaratnam. The irony is that he did not make any money.
A criminal case was filed against Gupta by the United States Attorney's Office on October 26, 2011 for insider trading.
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.
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The ruling by the Supreme Court was made in a parallel civil insider trading case brought against Gupta by federal regulator Securities and Exchange Commission.
While most economies contracted in the second quarter of 2020, the Chinese economy grew by 3.2 per cent.
The US Court of Appeals for the Second Circuit in New York said that briefs by Gupta on his appeal should be filed by January 18 next year while the government's motion should be submitted in court by March 15.
During the meeting with Finance Minister Nirmala Sitharaman, it was also suggested that employees' provident fund should increase its exposure in the stock market, which in turn would improve liquidity.
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.
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.
Over 10 Indian start-ups with total valuations of $84 billion (some are planning fresh fund-raising) are bracing to launch initial public offerings (IPOs) in the next 36 months. While the size of their IPOs is under discussion, estimates are that they would together raise a minimum of over $8-10 billion during the initial listing.
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.
Berkshire Hathaway's India-born head of reinsurance business Ajit Jain, seen as a possible successor to billionaire investor Warren Buffett, will testify through a video deposition for his "close friend", former Goldman Sachs director Rajat Gupta in his insider trading trial.
The brief courtroom drama began on Monday when the jury was listening to the testimony of star government witness Goldman Sachs chief executive officer Lloyd Blankfein.
Gupta, 65, reported to the minimum security satellite camp at FMC Devens in Ayer, Massachusetts on June 17.
Samant said he has been into R&D for the past 24 years and before joining GlobalLogic, he was president at Ness Technologies and had worked at Hewlett-Packard lab in India and also has worked at IBM labs.
The US government has asked a court in New York to slap a maximum penalty of $15 million on India-born fallen Wall Street titan Rajat Gupta and permanently bar him from serving as director of any publicly-traded firm for his "terrible breach of trust" by indulging in insider trading.
The ugly underbelly of the policies of economic liberalisation followed over the last two decades has been crony capitalism at its worst.
'There is no need to do anything, let your SIPs get deducted every month, and stick to your allocation between equity, fixed income and emergency funds and your risk covers.'
If Gupta had given Raj Rajaratnam information that Goldman Sachs was going to get an investment from Warren Buffet (and suppose, if Rajaratnam had not sold an already long position in Goldman stock based on this material, non-public information), would this have amounted to a criminal offence on Gupta's part?
A US judge has asked prosecutors to provide specific financial benefits they allege former Goldman Sachs director Rajat Gupta made by passing inside information to his friend Raj Rajaratnam amidst allegations that he also tipped him about Proctor and Gamble's 2008 sale of Folgers Coffee Co to JM Smucker.
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.
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.
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.
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.
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.
A support group for Gupta, known as 'Friends of Rajat', has urged his 'friends and well-wishers' to submit letters of support, in which they should write about Gupta's life and work.
Surajeet Das Gupta explains why Mukesh Ambani's target is by no means impossible.
Investors became richer by over Rs 80,000 crore (Rs 800 billion) today as the benchmark indices rose over 1.7 per cent each on Goldman Sachs' upgrading Indian stocks and optimism that government will push through key economic reforms.
Moderating economic growth and easing inflation may prompt the Reserve Bank to halt interest rate hike in the upcoming mid-quarterly credit policy review later this month, according to analysts.
Goldman cut India's growth estimates to 6.6 per cent from 7.2 per cent for the fiscal year ending March 2013, while BofA revised its forecast to 6.5 per cent from 6.8 per cent.
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.
