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Monday, Dec 06, 2021
Outlook.com
rajat gupta: insider trading

The Cultists Of Personality

His guilt is pronounced. But there are still more questions asked of the process than the man.

The Cultists Of Personality
The Cultists Of Personality
outlookindia.com
-0001-11-30T00:00:00+05:53

The business elite in India—a bunch of whom have either worked with Rajat Gupta or watched his rise from close quarters—say they “don’t understand” the guilty verdict handed to the former McKinsey chief last Friday for insider trading. “Rajat Gupta has been made an example of. In the US, people are reeling under the financial collapse and though Rajat is neither a Wall Street guy nor a banker, he’s taking the fall for them,” says Pramath Raj Sinha, an entrepreneur who worked at McKinsey for 12 years and is Gupta’s friend.

It is a bitter ending to Gupta’s four-decade-long career during which he stood alongside the mightiest in the consulting world. The muted reaction in India to the verdict—Gupta will now serve a prison sentence besides paying hefty fines—stems from the poster boy status accorded to him as a global Indian. Thanks to a sentimental belief in Gupta’s honesty and charisma (and his donations, charity and socially responsible works), a large cross-section of Indian businessmen—some 350 top business people had signed an open letter in his support—have supported him through an online campaign since December last year.

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