United States regulator Securities and Exchange Commission has asked an appeals court to affirm a district court's decision that India-born former Goldman Sachs director Rajat Gupta pay a $13.9 million penalty and be banned for life from serving as director of a public corporation.

The federal regulator has filed a brief in the US court of appeals for the second circuit, saying the district court acted well within its discretion by permanently barring Gupta from associating with brokers, dealers, and investment advisors, permanently enjoining him from future violations of the securities laws and permanently barring him from serving as an officer or director of a public company.

Sixty-five-year-old Gupta has been granted time till April 7 to file his reply to the SEC brief.