TIMELINE-Fraud-hit Satyam may announce buyer on April 13

BANGALORE, April 8 (Reuters) - Fraud-hit Satyam Computer Services Ltd (SATY.BO) could announce the buyer of a majority stake in it as soon as April 13, the deadline for submitting bids.

The Indian outsourcing firm, reeling since its founder and chairman quit in January after unveiling an accounting fraud, is trying to find a buyer of a 51 percent stake to restore the confidence of its clients and staff.

For recent stories on Satyam, see [ID:nBOM394323].

Following are some key recent events at Satyam:

Jan. 7 - Satyam chairman and founder Ramalinga Raju resigns, disclosing that profits had been falsely inflated for years and assets overstated in India's biggest corporate scandal, sending its shares plunging nearly 80 percent.

Jan. 8 - Interim CEO Ram Mynampati says Satyam faces a crisis of "unimaginable proportions" and that the liquidity situation was "not very encouraging now".

Jan. 9 - Raju and his brother, the firm's managing director, are arrested on charges of cheating and forgery, and the Indian government dissolves Satyam's board.

Jan. 10 - Satyam's chief financial officer arrested by police for criminal conspiracy and forgery of accounts.

Jan. 11 - Government appoints three members to the new board of Satyam, including Deepak Parekh, chairman of the Housing Development Finance Board and Kiran Karnik, former head of a technology lobby group.

Jan. 12 - The new board says Satyam needs to restate its accounts and appoint senior people as soon as possible to get back on track.

Jan. 14 - KPMG and Deloitte appointed to restate accounts. Satyam's auditor, the Indian unit of PricewaterhouseCoopers, says its opinions on the outsourcing firm's financial statements may be unreliable after the fraud revelation.

Jan. 14 - The government appoints three more board members.

Jan. 19 - State Farm Automobile Insurance Co, a U.S.-based client, cancels its outsourcing deal with Satyam and the government widenes its probe to two firms linked to Satyam's jailed founder.

Jan. 27 - The board appoints Goldman Sachs (GS.N) and Avendus, an Indian investment bank, to identify strategic investors and obtain expressions of interest.

Feb. 5 - Satyam names A.S. Murty, a company veteran, as CEO, and says it has bank approval for funding of 6 billion rupees to meet capital needs. National Australia Bank (NAB.AX) says it has decided to suspend new outsourcing contracts awarded to Satyam.

Feb. 6 - Kiran Karnik assumes the role of Satyam chairman.