The following is a timeline of the major developments in the Satyam case, in which a special CBI court on Thursday sentenced B. Ramalinga Raju, his two brothers and seven others to seven years in prison.
January 7, 2009: Ramalinga Raju resigns as chairman of Satyam Computer Services Ltd., and confesses that the company's account books and profits were inflated over many years.
January 9, 2009: Police arrest Ramalinga Raju, his brother and company director Rama Raju, Centre disbands Satyam board; Sensex, Nifty remove Satyam.
January 10, 2009: Satyam's CFO Srinivas Vadlamani arrested.
January 11, 2009: Centre appoints Deepak Parekh, Kiran Karnik and C. Achuthan to the Satyam board.
February 16, 2009: CBI takes over investigation, tells the court that Satyam caused loss to the investors to the tune of Rs.14,162 crore.
March 6, 2009: SEBI gives nod for bidding process to select investor in Satyam.
April 7, 2009: CBI files first chargesheet, charging Raju and others with criminal conspiracy, cheating, forgery, falsification of accounts and disappearance of evidence.
April 22, 2009: Tech Mahindra acquires Satyam in open auction.
June 2009: Tech Mahindra unveils Mahindra Satyam, the new brand identity for Satyam.
November 24, 2009: CBI files second chargesheet, highlighting more financial transactions by Raju and his associates.
January 7, 2010: Third chargesheet filed.
January 15, 2010: Andhra Pradesh High Court constitutes special court.
August 18, 2010: Andhra Pradesh High Court grants bail to the accused.
October 26, 2010: Supreme Court rejects bail and directs the accused to surrender by November 10.
November 2, 2010: Trial begins in special court.
November 4, 2011: Supreme Court grants bail to Raju and others as the trial court failed to complete hearing within the timeframe set by it.
October 28, 2013: Enforcement Directorate files criminal complaint against 47 people and 166 corporate entities headed by Ramalinga Raju.
December 8, 2014: An economic offences court sentences Ramalinga Raju and three others to six months imprisonment in six of the seven cases filed by the Serious Fraud Investigation Office (SFIO).
December 23, 2014: Special court postpones verdict citing voluminous documents.
March 9, 2015: Court defers verdict till April 9.
April 9, 2015: Ramalinga Raju and nine others found guilty, sentenced to seven years imprisonment.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
