/* Style Definitions */
table.MsoNormalTable
{mso-style-name:"Table Normal";
mso-style-parent:"";
line-heigh t:115%;
font-size:11.0pt;
font-family:"Calibri","sans-serif";}
Trial of former Goldman Sachs
Director Rajat Gupta starts in New York
Mistakes done knowingly or unknowingly
would be point of discussion when the trial for Rajat Gupta, an old time
director of Goldman Sachs, begins in New York. People in high positions of top
world companies do not get exorbitantly high salary just for their
qualifications; there are many other parameters that are considered before they
are being hired for the company. The board of directors is the pillar of a
company and it takes all the policy decisions after deliberating several
factors. Therefore, the discussion inside the board room is regarded as top
secret and all present in the room stand by its confidentiality all the time.
Rajat Gupta is intelligent, articulate, educated, sharp, coherent, and above
all sincere in his professional activities, which are the reasons for his
success in the corporate life. A man in this stature has committed a wrong that
is so silly is difficult to accept as unknowingly done error.
His phone conversations with Raj
Rajaratnam have been taken seriously and the later has been prosecuted already
and is serving a prison term of 11 years. Lawyers defending Gupta would try to
bring his past records to save him from the wrong he has done, but would they
be able to convince the jury that his mistake is an unintentional one? Insider
trading charge is a serious one and in this case one party has been prosecuted
by the court showing little hope for Gupta. The testimony of Goldman Sachs
chairman Lloyd Blankfein would be crucial for Gupta to save himself from
proceeding to prison at the age of 63. Gupta’s lawyers are optimistic about his
life stories, which carry no blemish records. Rajat Gupta is now enjoying his
freedom on a bail of $ 10 million.