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Would Rajat Gupta have got this verdict in India?

Posted by fairval on June 17, 2012

Rajat Gupta clearly got what he deserved. That is is beauty of the US legal system, their business environment, and explains why the world still needs a strong US to show the way.

In India, this case would never have never come up. Despite our rampant insider trading, hardly anyone has ever got caught. SEBI has made some cases against both Reliance Groups, but lacks courage to do anything substantive.

What I am surprised to see is the stance Indian businessmen and media took in the run up to the verdict and even after it. Indian businessmen were coming in support of Rajat. Why? Perhaps they also do insider trading all the time, and dont quite see it as a big enough offence.

Will this scare wrong doers in India? Unlikely. Lets see if there is any serious conviction in the 2G scam in the next 5-10 years. Raja is roaming free, and getting treated like a hero by his party.

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