Rajat Gupta, former board of director at Goldman Sachs Group, has sought re-trial over the insider trading case in which he was handed down a two-year prison term along with a $5 million fine.
On Tuesday, Gupta's lawyer Seth Waxman questioned the authenticity of the wiretap evidence that was accepted by US District Court Judge Jed Rakoff to penalize Gupta in October last year.
India's second largest private refiner, Essar Oil Ltd is expected to sign a Memorandum of Understanding (MoU) with officials of the China Development Bank (CDB) for up to $ 1 billion loan deal backed by supply of refined products to state-run, PetroChina.
The agreement is expected to be signed on Tuesday when the Chinese Prime Minister Li Keqiang visits Mumbai. The loan is expected to be backed by refined products from Essar's Vadinar refinery in Gujarat. The deal is a type of export advance to reduce debt by the company.
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