Cricket and the Olympics made for strange bedfellows when the sport featured in its roster for the first and only time in the 1900 edition of the games in Paris.
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.
Blankfein, 57 took the witness stand on Tuesday in Gupta's trial, which began in a Manhattan court on May 21.
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."
Also to be questioned under oath by lawyers of the SEC and Gupta is Greg Ormond of Exemplar Wealth.
Nuanced US reaction to Rajat Gupta's fall shows greater maturity than the extremes we go to in India.
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.
'This incident offers ammunition to those inside the US government and elsewhere who question the wisdom of trusting India, so it will have a lasting consequence no matter how it is managed.'
The spotlight is back on the hawala trade in diamonds.
Rajat Gupta, 70, the first Indian managing director of McKinsey and who of 17 months in US prison for insider trading, gets ready to tell his side of the story. And he is less than complimentary about Preet Bharara, then the famous crusading US attorney for the Southern District of New York. "The jury, the press and the public saw only... a 'cropped picture', he says. For someone whose life story was a model of the Great American Dream - an Indian of modest means who rose to the highest circles of politics and business, mingling with the White House and Davos crowd - his indictment in 2012 marked a stunning fall from grace. Many ascribed it to the hubris of the rich and powerful, says Kanika Datta.
Cuban faces insider trading charges for avoiding a $750,000 loss on an investment in an Internet search company.
'But he was very quick and did a very stylish adab.' 'Of course, I didn't expect him to hug.'
Eminent Indian-American attorney Preet Bharara has made it to the cover of the prestigious Time magazine for his crusade against Wall Street corruption and irregularities, including insider trading. With the caption This man is busting Wall Street, Bharar's picture appeared in the latest edition of Time on Thursday, the day on which he announced to have taken action against one of the oldest Swiss banks for having evaded American taxes and helping in the flight of US money.
Investors and analysts also questioned an expensive aircraft acquisition in the March quarter and possible insider trading.
In an apparent reference to Mumbai's Adarsh housing society scam, Maharashtra Chief Minister Prithviraj Chavan on Monday said the case should be disposed of speedily and the guilty should be brought to justice.
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.
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.
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.
The court directed Raju, the prime accused in Satyam scam, and others to furnish personal bond of Rs 20,000 each and sureties of the like amount on or before December 22 and posted the matter to the same date.
Berkshire Hathaway's India-born top executive Ajit Jain was "shocked" to hear that his friend ex-McKinsey head Rajat Gupta had lost USD 10 million in an investment fund with Raj Rajaratnam, which he described as a "deliberate hanky panky" by the convicted hedge fund founder.
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 move came two days after the lawyer said it was 'highly likely' that Gupta would take the witness stand in his trial.
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.
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 judge said the evidence that Gupta passed illegal information about Goldman Sachs to now-jailed hedge fund founder Raj Rajaratnam was not only overwhelming, it was disgusting in its implications.
The Silicon Valley people, who knew former McKinsey chief Rajat Gupta, reacting to the two-year jail term imposed on him for insider trading, said what happened is a tragedy, horrible and sad, but also feels Gupta will be back.
America's biggest insider trading case that has rocked Wall Street has pitted one Indian-American against the other, in which New York's top federal prosecutor Preet Bharara will use every legal weapon to nail corporate America's poster boy Rajat Gupta and others.
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.
Assistant US Attorney Jonathan Streeter has told US District Judge Richard Holwell that the government plans to present two more witnesses before wrapping up.
Investors should look at actively managed funds, says Devangshu Datta.
During the trial proceedings on Tuesday, John Dowd, Galleon Group founder Rajaratnam's defence lawyer, cross-examined Kumar, a former McKinsey & Co. partner who gave his direct testimony.
Indian-American Rajat Gupta, former board member of Goldman Sachs and Proctor and Gamble, has rubbished charges of insider trading against him as "baseless" with his lawyer asserting that his conduct and integrity were "beyond reproach".
An Indian-origin former analyst has been accused of providing confidential company information in the Raj Rajaratnam-led insider trading scheme, has been fined $34 million for his role in the scheme.
FPIs would be classified into two categories instead of three, while the requirements for issuance and subscription of offshore derivative instruments would be rationalised.
Ruias-led Essar Group on Friday launched a scathing attack on Vodafone saying that the British company is trying to gain 100 per cent control of the telecom JV Vodafone-Essar at an "artificially depressed value".
The SEC however added that "dismissing these proceedings will not prevent the Commission from filing an action against Gupta in United States District Court."
Anil Kumar came out from a courtroom in Southern New York, all smiles.
