The Satyam Chronology

1987: Ramalinga Raju establishes Satyam Computer Services Ltd.

1991: Satyam gets listed on the Bombay Stock Exchange, IPO oversubscriber 17 times.

2006:Revenues cross '$1 billion.' Raju becomes Nasscom Chairman.

2007:Raju named Ernst & Young Entrepreneur of the Year.

2008:

September 23: Satyam awarded with Golden Peacock Award for Corporate Governance and Compliance.

December 16: Satyam Chairman Ramalinga Raju announces plan to buy Maytas Infra and Maytas Properties owned by his sons for $1.6 billion.

December 17: Raju does a U-turn because of negative investor reaction.

December 23: Satyam barred from business with the World Bank for 8 years for alleged malpractices in securing contracts. Shares fall to lowest in 4 years.

December 25 - Satyam asks World Bank to apologize.

December 26 ��� Board member Mangalam Srinivasan resigns followed by exits of members Vinod Dham, Krishna Palepu.

December 30 - One of Satyam's largest investors says it could sell its stake.More suitors join in the fray to acquire Satyam.

2009

January 2: Satyam says its founder's stake fell by a third to 5.13%.

January 6: Satyam's i-bank DSPML meets Sebi, informs about accounting irregularitites.

January 7: Ramalinga Raju resigns, discloses a Rs 7000-crore accounting fraud in balance sheets about cash which never existed in the company.

January 8: Satyam's bank Citibank freezes its 30 accounts. Interim CEO Ram Mynampati says company in severe cash crunch and may not be able to pay salaries. Satyam's auditor PwC faces ire.

January 9: Ramalinga Raju and his younger brother B Rama Raju arrested by Police. Central Govt disbands Satyam board, to appoint its own 10 directors.

January 10: Satyam's largest investor Lazard seeks a nomination board. SEBI grills Raju.