The Indian government has acted quickly to help sort out the financial chaos at Satyam and bolster confidence in the country's technology industry.
The state has installed three new directors at the giant outsourcing company in a bid to restore world confidence in the Indian IT sector.
The image of the sector was dealt a second blow with the news that the country's third-largest IT company, Wipro, has admitted being banned from World Bank contracts.
The ban, in effect until 2011, came about because bank staff had been offered "improper benefits".
The first task facing Satyam's new board is to secure financing and fill management positions.
In addition, a new accounting firm would be hired to review finances.
The Indian governmet may help out with financing to get the company back on its feet and functioning normally.
Satyam has been in the world spotlight following the revelation of a $1-billion financial fraud. Its MD and chairman were both arrested yesterday.