The Tech Phoenix

"This book is a must-read for anyone interested in corporate governance—practitioners, academics, students, or policymakers." —Kiran Karnik

On the morning of January 7, 2009, India and the global IT community were stunned as a letter from B. Ramalinga Raju, chairman of Satyam Computers, appeared on all news channels. Raju confessed to manipulating the company’s books for years, despite regular audits. The revelation had immediate consequences: Satyam’s stock prices plummeted, thousands of employees were affected, and India’s reputation as a leading IT service provider was tarnished.

The Tech Phoenix: Satyam’s 100-Day Turnaround begins at this crisis point. The government quickly intervened, appointing a new board composed of eminent leaders from various fields. T.N.Manoharan, one of these board members, recounts the extraordinary events of the next 100 days—the fastest corporate turnaround in history.

This compelling account details the meticulous planning, dedication, and decisive actions that restored a fallen company. It also explores the selection of a new investor who infused capital and took control, highlighting the lessons learned in safeguarding stakeholders—employees, investors, and customers—and restoring India’s global corporate image.

T.N. Manoharan is a member of the RBI’s Standing External Advisory Committee, which evaluates applications for universal and small finance banks. He currently serves as chairman of IDBI Bank and sits on the boards of Mahindra & Mahindra, Tech Mahindra, and the National Bank for Financing Infrastructure and Development. A chartered accountant with 39 years of experience and a law graduate, Manoharan was part of the government-nominated board for the revival of Satyam Computer Services Limited. He has also served as chairman of the Committee on Accounting Standards and Taxation of the Confederation of Indian Industry (2009–2011) and as president of the Institute of Chartered Accountants of India (2006–2007). He has authored several books on taxation for professionals and students. Among his numerous accolades, he received the CNN-IBN “Indian of the Year” award in 2009 from the Prime Minister of India and was honored with the Padma Shri on April 7, 2010.

V. Pattabhi Ram is an author, public speaker, teacher, and chartered accountant. An alumnus of St. Joseph’s College, Tiruchi, he interned at Deloitte and has taught over 75,000 CA students. A regular speaker at professional seminars, his works include:

• Ticking Times: An Accountant and a Gentleman, a novel set against the backdrop of the audit profession
• A Few Good Men and Nightingales: How Eleven Women Overcame Obstacles on the Road of Life, both biographical sketches
• Building a Legacy, a biography of A. Ramakrishna, former deputy managing director of L&T, released by the Vice President of India

His textbook, First Lessons in Strategic Financial Management, co-authored with S.D. Bala, remains a popular resource among CA students.