THE TECH PHOENIX

‘This book is a must-read for all those interested in corporate governance whether practitionersacademics students or policymakers.’— Kiran Karnik On the morning of 7 January 2009 India and the global IT community watched in horror as a letter written by the chairman of Satyam Computers B. Ramalinga Raju flashed on all news channels. The tech czar confessed to fixing the books for years together audits notwithstanding. This led toa host of consequences—Satyam stock prices crashed its large employee base was deeply affectedand most importantly India’s reputation as a premier IT service provider was sullied. However the story does not end there. In fact The Tech Phoenix: Satyam’s 100-Day Turnaround only begins at this point. The government swiftly stepped in and nominated a board with leading figures from various fields. T.N. Manoharan one of these board members narrates the events of the tumultuous 100 days immediately following Raju’s letter in what is the fastest turnaround in corporate history. This remarkable corporate rescue operation is an engrossing story that culminates in the selectionof an investor who infuses capital and takes control. It offers an insider’s account of the detailedplanning and dedication that resurrected a fallen but storied company and the lessons learnt in theprocess of protecting the interests of the stakeholders—employees investors and customers—andredeeming India’s global image.