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Mukesh Ambani, Adi Godrej express support for Rajat Gupta

Mukesh Ambani and Adi Godrej have expressed their support for prominent Indian-American Rajat Gupta, who is on trial in a high-profile insider trading scandal. FULL COVERAGE

twitter-logo PTI   New York     Last Updated: May 22, 2012  | 09:36 IST

Many Indian business leaders including Mukesh Ambani and Adi Godrej have expressed their support for prominent Indian-American Rajat Gupta, who went on trial on Monday in a high-profile insider trading scandal.

FULL COVERAGE:Rajat Gupta trial

Friends of Rajat Gupta, a high-profile Wall Street personality and former Goldman Sachs director, have come out in support of him through 'www.friendsofrajat.com'.

India-born Rajat Gupta is facing trial for allegedly providing insider information on companies to his friend and now convicted hedge fund trader Raj Rajaratnam. His trial started in a Manhattan court on Monday.

Reliance Industries chairman and billionaire Mukesh Ambani has said that he has known Rajat for over 20 years.

"In every conversation I have had with him over the years, he was always talking about the things he wanted to do for India, for others, and never about himself," Ambani has said in a letter posted on the website.

"I have never seen him ask for anything for himself, always for a greater good... I respect Rajat for his selfless dedication and humility and he will always be a friend of mine," he noted.

According to Ambani, Rajat always the Bhagvad Gita shloka that said, "You are only entitled to do your duty, not to the fruits of that duty".

In another letter, Godrej Group chairman and prominent industrialist has said that Rajat has always been a person of great integrity and clarity of purpose.

"My admiration for Rajat remains as strong as ever," he noted.

As per the website, other friends of Rajat include ITC chairman Yogi Deveshwar and DLF chairman K P Singh.

One of the charges against Rajat is that he had tipped off Rajaratnam about Berkshire Hathaway's USD 15 billion investment in Goldman Sachs at the height of financial meltdown in 2008.

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