A two-judge panel of the U.S. Court of Appeals for the Second Circuit has decided that Rajat Gupta, a former Goldman Sachs and Procter & Gamble board member, can remain free on bail pending the appeal of his insider trading conviction. The ruling came yesterday after the panel heard arguments in the case. The court did say lawyers should expect to file their briefs within a month and a half, indicating that the appeal will be heard quickly. Gupta was sentenced in October to two years in prison and fined $5 million.