The chairman of India’s Satyam Computer Services on Wednesday confessed to fixing the IT outsourcing company’s books for the past “several” years, the country’s first major fraud case to emerge following the global financial crisis. Below are the recent events that led to Ramalinga Raju’s resignation.

Dec 16: Satyam announces the $1.6bn acquisition of two companies controlled by the family of Ramalinga Raju, chairman of the IT outsourcer. However, Satyam aborts the deal seven hours later due to a revolt by investors who oppose the takeover. Satyam shares plunge 55 per cent in New York.