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Voices on Rajat Gupta

Source : BUSINESS_STANDARD
Last Updated: Thu, Oct 25, 2012 20:41 hrs

India Inc brass was surprisingly reticent on the Rajat Gupta sentence. A few reactions:

RAHUL BAJAJ
Chairman, Bajaj Auto
“Rajat Gupta has tremendous achievements to his credit in his working life, hence his conviction in June this year in insider trading was a shock. Unfortunately, he has to go to jail for two years. But as per the US law, the judge Jed Rakoff was lenient in giving just two years sentence. In case Rajat appeals the sentence, I wish him the very best.”

ADI GODREJ
Chairman, Godrej Industries
“I do not want to comment on an individual case. However, I strongly feel that norms against insider trading in India are quite robust.”

KIRAN MAZUMDAR-SHAW,
Chairman and Managing Director, Biocon
“I was hoping that the sentence would be more lenient. Rajat Gupta is a good man, as the Judge himself said. I have known Rajat Gupta as a humanitarian, a good person, a man of integrity. I am sad to see this happen to him, but I am sure he will serve his sentence with strength and dignity and continue thereafter to work for humanitarian causes.”

ANALJIT SINGH
Chairman, Max India
“With Rajat’s conviction, the shock did not come yesterday, but it was a culmination of shock. It is really unfortunate. I wish him well. When it comes to insider trading, it is important for companies in India and elsewhere on how they deal with shareholders.”

MOHANDAS PAI
Chairman, Manipal Global Education Services
“It is a fair sentence and speaks highly of the American justice system. The whole trial and sentencing have been swift. However, there is a lesson to be learnt from this, which is, the law is supreme and the rule of law should always prevail for a good society.”



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