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.

Feb. 16 - The Central Bureau of Investigation (CBI), India's federal crime investigation bureau, joins a probe into Satyam, raising hopes of a speedier conclusion to the case.

Feb. 19 - Satyam wins approval from the Company Law Board to increase shares on issue and bring on board a strategic investor with the financial and management clout needed to ensure the survival of the outsourcer.

March 6 - Satyam wins regulatory approval to sell a 51 percent stake. India's Larsen & Toubro (LART.BO), which holds 12 percent of Satyam, and diversified firms Spice Group and Hinduja Group express an interest in bidding.

March 9 - Satyam starts the sale process and Larsen & Toubro and Spice Group, quickly confirm they will join the race.

March 13 - Satyam says that Indian and international firms, including private equity companies, have registered to bid for a controlling stake. Larsen & Toubro, Tech Mahindra (TEML.BO), Spice Group and U.S. outsourcer iGate Corp (IGTE.O) all say they have registered as potential bidders.

March 20 - iGate Corp says it will not proceed with a bid.

March 24 - Satyam says it hopes to finalise the buyer of a 51 percent stake by April 30. March 27 - Spice Group says it will not proceed with its bid for now as it has not got the desired level of transparency.

April 1 - Wilbur Ross, asked in a U.S. television interview about a bid for Satyam, calls the company "interesting" but declines further comment due to India's confidentiality rules.

April 2 - Sources tell Reuters financial bids for Satyam will be put in by April 9, and the sale is likely to be completed by mid-April. Satyam changes the bidding process to introduce a second-round open auction to find a new owner if necessary.

April 4 - Satyam board member says deadline for submitting bids for the outsourcer has been extended to April 13 from April 9 as bidders sought more data.

April 5 - Satyam may announce the buyer on April 13, the deadline for submitting bids, Karnik says.

For five facts on Satyam, click [ID:nBOM417149]. (Compiled by Sumeet Chatterjee; Editing by John Mair and Muralikumar Anantharaman)