This week probably be the sad week for India inc or for every Indian. They say some time good guys do the bad things does it apply for the man with such a remarkable career and who is inspiration for millions of people around the world,Rajat Gupta is the man who defined India's influence in the global corporate world sentenced to two years in prison for insider trading. This is another example to white collar crime is growing in corporate world,what must have made man with such intelligence and such a career to commit a crime like this is that just to help a friend? or money? or to make profit for his own firm? of-course money was not the inspiration for rajat gupta who was already wealthy so what made him commit a crime like this and to make his career to disgrace. The questions going through every Indians mind is what about the Indian image at wall street i think this question is yet to be answered or time is the best answer for it. prosecutors still say that it is a lenient verdict for rajat gupta who brazenly revealed confidential company information to his friend Raj Ratanam, who is already serving a 11 year prison term for insider trading.
The judge Jed Rakoff said he is on par with Mother Teresa because with his benevolent work he touched upon the millions of people on the planet apparently that makes me uneasy why person like him walks out of the goldman sachs meeting and calls his friend to give the confidential information. however there is lesson to be learnt from american judicial system for corporate India and indian law system that the trail of Rajat Gupta was fast and right though some people call it as 'lenient verdict" because they atcually thought that Rajat Gupta would be sentenced to ten year because they believe in phrase" justice delayed is justice denied" but in India it does not make any sense white collar crimes like satyam's Ramlinga Raju still enjoying the inability of Indian judicial system which could not even began the trial in six year let alone the verdict indeed there is lesson to be learnt from it. As we can see all the biggies like Bill gates, Kofie Annan came for his support but the damage was already done.
He hailed his image as Indian poster-boy scaling great heights in corporate echelons abroad, he himself said i have lost my reputation that i have built over a lifetime. I guess this greedy world needed this kind of example stating that nobody is above the law and you can not get away with it regardless of who you are,after stellar career that was 40 years in the making,it took one year for Gupta's downfall,for upcoimg leaders and young Indian leaders it would nice to understand and learn from, it is difficult to fathom that this is an indelible impression of Indian on the globe but i hope there would be a time that another poster boy of India would make less nostalgic about this event and would make us proud.
