Today's verdict in a special court has nailed the coffin of the 6-year old Satyam fraud case. While the case has kept both investigators and investors on their toes, the 3,000 pager document and 226 witnesses finally proved that the stalwarts were responsible for cheating and deceiving common man.
Here is a detailed timeline of the case:
January 7, 2009: After resigning, Ramalinga Raju resigns reveals a Rs 7,000-crore accounting fraud in balance sheets about cash which never existed in the company.
January 8, 2009: 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, 2009: Ramalinga Raju and his younger brother B Rama Raju arrested by Police. Central Govt disbands Satyam board, to appoint its own 10 directors.
Jan 9, 2009: Satyam removed from Sensex, N NSE excludes FandO
contracts on expiry of Jan contract.
Jan 10, 2009: Satyam former CFO Srinivas Vadlamani arrested.
Jan 11, 2009: Deepak Parekh, Kiran Karnik and C Achuthan appointed by government to Satyam board.
February 2009: CBI takes over, files 3 chargesheet
Mar 6, 2009: Gets SEBI nod for bidding process to select investor
April 22, 2009: Tech Mahindra takes over Satyam shareholders at Rs 58/share.
June 22, 2009: Mahindra unveils new brand identity for Satyam-Mahindra Satyam.
2010: Raju retracts confession statement, says charges levelled by CBI are false
November 2, 2011: Supreme Court grants bail to Raju since CBI failed to file chargesheet on time.
October 28, 2013: Enforcement Directorate filed a chargesheet against Raju and 212 others. The file revealed that the the accused resorted to inter-connected transactions, so as to ensure that crime proceeds were away from its initial beneficiaries, and laundered the said proceeds under the cover of the corporate veil, with a motive to project the properties so acquired as untainted ones.
[Also read: Satyam fraud: All 10 accused found guilty]
December 8, 2014: Ramalinga Raju and 3 others serve 6 months jail term by SFIO
December 23, 2014: Judge adjourns verdict citing voluminous documents
March 9, 2015: Special court adjourns verdict till April 9
April 9, 2015: All 10 accused found guilty