Satyam Computer Services got exposed in 21 days. On December 16, Satyam broke the news of Maytas buyout. The acquisition eventually did not go through as it was severy opposed by the shareholders. A series of resigations from the Satyam board took place subesequently. The final blow came on January 7, when Satyam's promoter Ramalinga Raju wrote a letter to the board saying that Satyam's balance sheet was forged. The balance sheet showed inflated cash & bank balance of Rs 5040 crore. The accrued interest of Rs 376 crore in the books too was non-existent.

In the Q2 of FY09, reported revenues was to the Rs 2700 crore Vs actual revenue of Rs 2112 crore. The Q2FY09 operating margin reported was Rs 649 crore against Rs 61 crore. The Q2FY09 numbers had Rs 588 crore of artificial cash in books.