The Tech Phoenix

On the morning of 7 January 2009, news channels flashed a letter from B. Ramalinga Raju, chairman of Satyam Computers, in which the head of one of India's best-known IT firms admitted he had falsified the company's accounts for years, despite audits. Satyam's share price collapsed, its large workforce was thrown into uncertainty, and India's standing as a leading provider of IT services took a serious blow.

This book picks up the story from there. The government moved quickly to appoint a new board of prominent figures from different fields, and T.N. Manoharan, one of its members, recounts the first 100 days after Raju's confession. He describes what is regarded as the fastest turnaround in corporate history, a rescue effort that ended with the selection of an investor who put in capital and took control of the company.

The account is an insider's, showing the detailed planning and sheer commitment that brought a fallen company back. It also draws out the lessons learnt while protecting employees, investors and customers and restoring India's reputation abroad, which makes it useful for anyone interested in corporate governance, from practitioners to students and policymakers.