The Satyam Computer Services scandal was a corporate scandal affecting India-based company Satyam Computer Services in 2009. The slides contain the timeline of events that took place in the scam.

1. - Santhosh kumar

2. Satyam
● Found by Ramalinga Raju in the year 1987 to provide IT services.
● On 1991 it was converted into a public limited company and went for public
issue in 1992.
● It was india’s 4th biggest software company.
● BSE Ipo oversubscribed 17 times when made Public.
- Santhosh kumar

3. ● It was listed in BSE,NSE,NYSE,EuroNext.
● It served over 656 companies in 6
continents.
● It was the first IT company in the world
to get ISO 9001:2000.
- Santhosh kumar

4. - Santhosh kumar

5. LIC - 4.34%
L&T - 4%
ICICI prudential
Lazzard
Fidelity
Aberedein
13.16%
Other Investors were JP morgan and Citi group
Satyam Share holding pattern
- Santhosh kumar

6. Satyams Total market Capitalisation was
Rs15,262 crs
(till Dec 15 2008)
- Santhosh kumar

7. So, what happened next ?
- Santhosh kumar

8. 16th December 2008 - Satyam Gets Board approval for
Controlling Stake in Maytas Infrastructure and Maytas properties as
fully owned subsidiary for 8000 crs
17th December 2008- satyam backs out of the deal citing
“Investors Protest”.
19th December 2008 - Center refers Satyam to deal with
RoC.
- Santhosh kumar

9. 20th December 2008 “Upaid” a british
mobile solution files a lawsuit Against Satyam in
a district court in US over the Maytas deal. May
face $1bn dollar in penalties.
- Santhosh kumar

10. 23rd December 2008- World bank bans
satyam for 8 years due to inappropriate payments to
staff and inability to provide information sought on
invoices.
- Santhosh kumar

11. - Santhosh kumar

12. 26th December 2008 - 1st independent director Dr. mangalam
srinivasan resigns from the board of directors.Satyam objects to WB
statements ,asks to apologies or face legal actions.
29th December 2008 - 3 more BOD’s resigns from satyam.
- Santhosh kumar

13. 30th December 2008 -Post cancellation of deal, Maytas looks
for raising $500 million through sale of equities and properties
3rd Jan 2009 - Satyam board confirms promoters stake is around
5% further 3.2% is still pledged.
- Santhosh kumar

14. 6th Jan 2009 - tech-mahindra(3766 crs)
offers to merge with Satyam (8473 crs)
- Santhosh kumar

15. 7th Jan 2009-
● 09:45 am SATYAM chairman wrote a letter to the company
● Audit firm PWC under scanner,
● Govt instructs RoC to Review the report
● Ram Mynampati takes over sd interim CEO according to Raju’s letter.
● NSE removes satyam from its benchmark index nifty.
● Hunt for raju brothers begins. Amid speculation over his whereabouts.
S
- Santhosh kumar

16. 8th Jan 2009
● Satyam CFO Vadamalai srinivasan resigns
● PWC in major trouble.
● Stocks of Pwc clients take a major beating at the BSE and NSE.
● BSE to replace Satyam Computer with Sun Pharmaceutical in its benchmark index Sensex with
effect from January 12
● PwC shot back at Satyam, saying in a media statement that the auditing was based on the audit
evidence provided by Satyam and in was accordance with applicable standards
- Santhosh kumar

17. 9th Jan 2009
Raju brothers arrested by the police on charges of criminal conspiracy, cheating, forgery, misappropriation of
funds and criminal breach of trust.
Market Capitalization of satyam falls to Rs. 1,607 Cr from Rs.15,262 Cr. on Dec 16 in 19 trading sessions.
- Santhosh kumar

18. 14th Jan 2009
The newly appointed 3 member board appoints auditing firm KPMG and Delloitte to assist it in
cleaning the mess in the scam tainted company’s accounts
The government expanded the three-member Satyam board to six to include S Balakrishnan of Life
Insurance Corporation, Tarun Das, chief mentor of the Confederation of Indian Industry and T N
Manoharan, former president of the Institute of Chartered Accountants of India(ICAI).

19. 15th Jan 2009
23 year old employee of satyam commits suicide in Chennai