India-born former Goldman Sachs director Rajat Gupta has sought a stay on a US court order to start serving a two-year sentence from June 17 on insider trading charges, contending that his bail conditions should be continued till his motion to rehear his case is decided upon.
NDTV reports that in a 23-page motion filed in the Court of Appeals here, Gupta's lawyers asked the court for 'an order staying his surrender date and continuing bail pending further appellate review'.
Gupta, who had lost his appeal to overturn his conviction on insider trading charges, was ordered in April to surrender and begin his two-year prison sentence on June 17.
His lawyers said his bail should be continued pending the court's final disposition of his petition for rehearing and, if rehearing of his case is not granted, pending the Supreme Court's final disposition of his certiorari (a writ seeking a judicial review) petition.
In seeking an order to stay his surrender date, 65-year-old Gupta is prepared to file a petition for certiorari on an expedited basis, the motion said.
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