Processing .....please wait.. 
The article has been forwarded.... 
Gupta Says He should Not be Required to Pay $6.78 mn to Goldman
By siliconindia
|
Monday, 17 December 2012, 23:17 IST
He opposed the demand by the company in a 43-page motion filed in a US district court recently.
According to Gupta, Goldman had not acknowledged and submitted “competent evidence” of the legal fees that they are demanding. The company, instead submitted billing records for a period of three year from December 2009 to November 2012, which did not include any specific details of the legal duties carried out by the company in association with the case.
“Simply said, Goldman is entitled to restitution of only those fees it can demonstrate were necessarily incurred in connection with specific requests by the government or were otherwise required to be done in the investigation or prosecution of the Gupta case,” Gupta’s lawyer Richard Davis said in court papers.
Goldman is demanding a reimbursement of at least $55,472, a portion of the cash compensation which was paid to Gupta from November 2006 to May 2010, while he was serving as the Director of the company.
“This request should be denied as Goldman has already forfeited to itself about $1 million of options and restricted stock non-cash compensation it paid to him as a director. Thus, it has already obtained well over 75 per cent of Gupta’s total compensation as director,” the motion said.