World
Rajat Gupta's appeal in insider trading case rejected

Manhattan federal Judge Jed Rakoff on Thursday rejected Gupta's appeal to have his 2012 conviction overturned, saying a recent appeals court decision did not affect tippers like him, the New York Post reported

 

Goldman Sachs' former India-born director Rajat Gupta failed to get his insider-trading conviction tossed on the ground that he did not benefit from the alleged tips after a judge ruled it was "too little, too late".
 
Manhattan federal Judge Jed Rakoff on Thursday rejected Gupta's appeal to have his 2012 conviction overturned, saying a recent appeals court decision did not affect tippers like him, the New York Post reported.
 
Gupta and Galleon Group founder Raj Rajaratnam, to whom Gupta was accused of passing illegal tips about Goldman Sachs "were close business associates with a considerable history of exchanging financial favours", Rakoff noted.
 
He had appealed against his conviction after an appeals court threw out two insider-trading convictions because the government had not proved that the people who gave the tips had received a financial benefit.
 
Gupta is serving a two-year sentence at a prison in Massachusetts and is reportedly scheduled for a March 2016 release.
 
In 2008, Gupta had been named chairman of Galleon International, Rajaratnam's $1.1 billion hedge-fund firm, in which he had a 15 percent stake.
 
While a Goldman director, Gupta told Rajaratnam that Warren Buffett planned to invest $5 million in the bank during the financial crisis, then later leaked information that Goldman would post a fourth-quarter loss.
 
That information provided a "potential pecuniary benefit" to Gupta because of his investments in Galleon, Rakoff said, according to the Post.
 
Rajaratnam has also asked the court to throw out his conviction based on the same appeals court decision.
 

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Patients heave sigh of relief as Maharashtra doctors end strike

The development comes as a welcome relief to thousands of patients at the strike-hit 14 government medical colleges-cum-hospitals and three run by the BrihanMumbai Municipal Corporation across Maharashtra

 

Resident doctors posted at state government and municipal hospitals across Maharashtra called off their two-day strike following an amicable settlement of a majority of their demands, a top leader of the doctors said here on Friday.
 
The development comes as a welcome relief to thousands of patients at the strike-hit 14 government medical colleges-cum-hospitals and three run by the BrihanMumbai Municipal Corporation across Maharashtra.
 
Accordingly, around 4,500 resident doctors from these 17 medical colleges-cum-hospitals will resume duties from 8 p.m. on Friday.
 
Particularly affected for two days were medical services such as Outdoor Patients Departments, emergencies, surgeries and routine procedures, which were temporarily being manned by junior doctors and professors.
 
"We held fruitful negotiations with Medical Education Minister Vinod Tawde on our pending issues. The government has conceded nearly 90 percent of our demands and will give a written, time-bound commitment to implement them," Maharashtra Association of Resident Doctors (MARD) president Sagar Mundada said.
 
Mundada said among the major demands conceded were two-month paid leave for expectant women doctors and those contracting tuberculosis, posting of post-graduates specialising in a particular field in the same department during bond period service, and a long-term plan to rationalise working hours.
 
MARD members struck work on Thursday after discussions with Tawde in June resulted only in oral assurances and no action on their implementation.

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Man gets Aadhaar for dog, arrested

Bhind Superintendent of Police Navneet Bhasin told IANS that Azam Khan was arrested on Thursday night

 

A computer operator at an Aadhar centre has been arrested in Madhya Pradesh for getting an Aadhar card made for his dog, police said on Friday.
 
Bhind Superintendent of Police Navneet Bhasin told IANS that Azam Khan was arrested on Thursday night.
 
Khan got the card for his dog in April. It carries the photo of the dog, Tomy Singh, and lists the date of birth as 26.11.2009. The "Father" column reads: Sheru Singh.

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COMMENTS

Suketu Shah

2 years ago

A real joke aadhar is every which way.I presume it is on only due to AJ.

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