Gupta, 66, is currently serving his prison term.
Rajat Gupta's lawyer Rishi Bhandari said suit was filed in order to ensure that there was a designee on the board.
Bharara has also asked the US Court of Appeals to deny 65-year-old Gupta's motion, filed earlier this month, that his bail be continued pending resolution of his petition for rehearing the insider trading case.
Bajaj added that doing something like insider trading was height of stupidity.
He is expected to be assigned to a medium-security prison in Otisville, New York, about 70 miles from New York City.
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.
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.
The move came two days after the lawyer said it was 'highly likely' that Gupta would take the witness stand in his trial.
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.
The US government is examining the possible role of Goldman Sachs and well-known investment banker Rajat Gupta in the Galleon hedge fund insider trading scam, says a media report.
The Diwali of 2011 saw Gupta surrender himself before the FBI after charges of insider trading were filed against him by Manhataan's top federal prosecutor India-born Preet Bharara.
The Diwali of 2011 saw Gupta surrender himself before the FBI after charges of insider trading were filed against him by Manhataan's top federal prosecutor India-born Preet Bharara.
The two bigger takeaways from this case for Indian regulators and enforcement agencies are the speed and efficiency with which it was concluded.
Gupta, 65, reported to the minimum security satellite camp at FMC Devens in Ayer, Massachusetts on June 17.
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.
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
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.
While the former managing director of McKinsey & Co, Rajat Gupta, has every right to claim that he is innocent until otherwise established in a court of law, he must adopt the same standards of good conduct in India as he has been required to in the US.
Can there be one norm for the US and another for India?
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.
Gupta was convicted of passing confidential information.
May 21 promises to be a crucial day for the Indian-American community as one of corporate America's most prominent India-born executives is scheduled to go on trial here while miles away a New Jersey court is to decide the fate of a Chennai native convicted of a hate crime.
Gupta was convicted of passing confidential information.
Aziz Haniffa recalls an earlier meeting with US Attorney Preet Bharara, who had addressed the criticism in certain segments in the community about an Indian American going after their own with a vengeance
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 Hollywood Reporter introduces yet another awards show, and India's biggest stars give it a warm welcome.
The Gupta case is SEC v. Gupta, US District Court, Southern District of New York, No. 11-07566.
His prison term is set to end on March 2016.
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.
Financial services firm Goldman Sachs has paid a large chunk of the nearly $30 million legal fees for its former board member Rajat Gupta's defence, a media report said.
Defense strategy seems to relying on three basic arguments.
Gupta began serving a two-year prison term on insider trading charges in June 2014.
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.
The memoir tells the story of his meteoric rise and equally dramatic fall.
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.
His prison, at Otisville, figures in Forbes 2009 list of the 10 cushiest prisons in the US.
Gupta's two-year prison term is set to end in March 2016.
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.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances