| Rajat Gupta |
On Thursday’s newspaper a story came that scandalized the
whole world because of its immense intensity. The whole world was stormed and
vexed by the story as Mr. Rajat gupta an acclaimed businessman was sentenced
for a 2 year imprisonment by Justice Jed Saul Rakoff. Everyone condemned the
decision as it was too harsh and severe for such a good person. We were
all distraught by the decision as a good
person was judged badly.
But now the question arises. And that question is
Who is Rajat Gupta?
Rajat Gupta is an Indian-born American businessman and the former global head of McKinsey & Co. He was born in Kolkata to Pran Kumari Gupta and Ashwini Kumar Gupta, has three siblings. His father was a journalist and moved to Delhi from Kolkata and Rajat studied at Modern School. His father died when he was 18, his mother 2 years later. He was a brilliant and brainy person and ranked 15 in IIT entrance examination and did B-Tech from IIT Delhi in 1971. Refused ITC job to join Harvard Business School in 1973 and joined McKinsey in 1973, and retired from office in 2007. He raised millions for education and healthcare and then served as adviser to UN and has worked as a trustee at Rockfeller Foundation and acted as an advisor to former Mr. President Bill Clinton's philanthropy.
What Rajat has done?
Rajat has been punished for insider trading in Goldman Sachs. Gupta's crime is that he had infringed his fiduciary duty of confidentiality to Goldman Sachs. Rajat Gupta has divulged some covert and latent information of company to Raju Rajaratnam, a Tamil American former hedge fund manager and billionaire founder of
the Galleon Group, a New York-based hedge fund management firm, and Raju used these notifications to earn quick profits and success for the company.
All these things let to the complete annihilation of his business life and tarnishing the image of this good person.
Rajat is a favourite of everyone. He is a very good humanitarian person who has always done good to mankind. He is undeniably a great person. Ex- President of USA Mr. Bill Clinton, Mr. Bill Gates, Co-founder of software giant Microsoft and Seventh General secretary of United Nations Mr. Kofi Annan also asked for the extenuation of Gupta's crime and leniency for him on humanitarian grounds but Justice Jed Saul Rakoff portrayed no mercy on Gupta and didn't abated his imprisonment on the legal grounds and this divisive judgement changed Gupta's future.
Gary Naftalis, Defence Counsel, said that" This man was a man who was an iconic figure, a role model for countless people. He is no more.
This judgement has marked the downfall of Rajat Gupta. He is a great man but his one faux pas has maligned his image in front of this whole world. But he is a great man and will always be.
May God give you the potential and power to sustain in these bad times.
"After every night there is a bright morning, and after every failure there is a great and tremendous win."
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