The Hyderabad-based Indian School of Business (ISB) today expressed confidence that its Chairman Rajat Gupta would be cleared of allegations of insider trading in the US.
A well known Indian-American, Gupta has been accused of insider trading by the US market regulator Securities and Exchange Commission (SEC), which has initiated administrative and civil proceedings against him.
Gupta, former board member of Goldman Sachs and Proctor & Gamble, has denied the charges.
"We also note the statement of counsel for Rajat Gupta, which asserts that the allegations are totally baseless.
"The ISB community is confident that Rajat Gupta will be vindicated. He continues to be the Chairman of the ISB Executive Board," ISB said in a statement.
Gupta is Chairman and Managing Director Emeritus of ISB's Executive Board as well as the Governing Board.
ISB is a premier business school in the country and has academic alliances with the Kellogg School of Management at Northwestern University and the Wharton School at the University of Pennsylvania, among others.
