Gupta began serving a two-year prison term on insider trading charges
Given how everything has played out, Mehul Choksi, now 62, achieved all that he wanted but for all the wrong reasons, says Pavan Lall.
Sri lankan-born Rajaratnam along with his co-conspirator Danielle Chiesi was indicted on Tuesday on charges of using non-public information from company executives to earn around $21 million in illegal profits, according to the 37-page indictment.
If convicted all of them face imprisonment of up to 20 years, according to the indictment, which reads that the defendants "routinely received inside information directly or indirectly from insiders and provided it to each other for the purpose of trading based on the information", filed in the US court.
Sebi's stewardship code for mutual funds and alternative investment funds lays down six principles to improve corporate governance standards in their investee companies, reports Jash Kriplani.
Rajat Gupta had made the request to travel to India in February.
The Securities and Exchange Board of India said it is 'closely watching' investments made by New York-based hedge fund Galleon, whose Sri Lankan founder Raj Rajaratnam was arrested for alleged insider trading on Friday.
'There is much scope for ingenuity and inventiveness, and the stakes are very high.'
While such buying could indicate confidence in the business, investors should do a comprehensive evaluation before getting into the stock.
Gupta occasionally runs into his one time friend-turned foe Rajaratnam, also serving an 11-year prison term on insider trading charges in the same facility.
The regulator is also planning to widen the ambit of 'deemed fraudulent activities'.
In a memorandum to Securities and Exchange Board of India on the proposed amendments to the Sebi (Prohibition of Insider Trading) Regulations, 1992, Ficci, while welcoming the proposal that the regulations should not freeze legitimate trading by the specified persons, feels that the management of a company should be authorised to decide and create window freeze.
The Securities Appellate Tribunal adjourned the hearing on RIL plea against SEBI in the insider trading case, for the fourth time in a row, to July 22 as the company sought more time to file its response.
He is expected to be assigned to a medium-security prison in Otisville, New York, about 70 miles from New York City.
Investors should look at actively managed funds, says Devangshu Datta.
Specific sections of the Companies Act need to be amended to empower Sebi to regulate or take penal action against an unlisted entity and its promoters for violating the insider trading and other securities norms.
Regulator likely to probe possible violation of insider-trading norms.
Gupta was convicted in 2012 following a jury trial of passing confidential information about Goldman Sachs to Raj Rajaratnam minutes after he learned about them at the board meetings.
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.
In a lengthy-118 page submission to Supreme Court Justice Ruth Bader Ginsburg, Gupta requested to remain free on bail, saying he is not a flight risk and if an appeals court rules in his favour, he will 'likely' be entitled to a new trial.
Indian-American television star Mindy Kaling had Harvard graduates in splits as she delivered her commencement speech.
This is the first time the Stanford Graduate School of Business has revoked a graduate's degree.
Besides Birla, a number of top industrial houses in the country are facing some probe or the other, ranging from bribery to illegal mining to insider trading.
While experts' views are divided, the move is aimed at improving the coordination between the government and the regulator.
Bharara, 48, has made a national and international mark for himself with many high-profile cases and investigations including foreign countries, insider trading and those involving US politicians.
Gupta began serving a two-year prison term on insider trading charges in June 2014.
Mathew Martoma helped SAC reap more than $275 million profit.
Justice Ruth Bader Ginsburg, who handles emergency applications from the 2nd Circuit, on Wednesday denied Gupta's request to stay out of prison.
The insatiable greed for money and power is too large, too repugnant to thwart. And no one epitomised that better than Harshad Mehta, notes Dhruv Munjal.
The new norms also seek to ensure that sufficient safeguards are put in place to avoid any misuse of its new powers and the required privacy of individuals is granted while conducting search and seizure operations.
Indian-origin Mathew Martoma, convicted for his role in the most lucrative insider trading scheme in US history involving $275 million, will be sentenced in June and could face about 20 years in prison.
Two individuals filed the petition in the high court of Andhra Pradesh
The court rejected Rajaratnam's arguments that wiretap evidence in his case should have been suppressed.
The government on Thursday gave more powers to market regulator Securities and Exchange Board of India to crackdown on ponzi schemes, access phone call records to check insider trading and carry out search and seizure operations.
RIL has filed a petition before SAT against Sebi's rejection of its application for 'consent settlement' of a probe into alleged violation of insider trading norms in sale of shares of the company's erstwhile subsidiary RPL.
RIL had sought to settle a probe by Sebi into the alleged violation of insider-trading norms in sale of shares of its erstwhile subsidiary Reliance Petroleum in 2007.
The capital market regulator has accused Reliance Petroinvestments of buying shares of Indian Petrochemicals Corp Ltd in early 2007 just before it declared an interim dividend and announced the merger of IPCL with RIL.
To safeguard the interest of small shareholders vis-a-vis promoters and other large investors during company takeovers, market regulator Sebi on Friday brought the entities holding more than five per cent stake under its insider trading regulations.
Rajaratnam's appeal against his conviction comes a day after a federal judge sentenced his friend and business associate Indian-American Rajat Gupta to two years imprisonment for leaking boardroom secrets to him.
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