The scandal has been named India's Enron and sapped international confidence in the previously booming Indian IT sector.
Satyam has been battling for survival since Mr Raju resigned as chairman a month ago. He revealed profits had been overstated for years and that $1 billion of cash and bank balances on the company's books did not exist.
New directors have been appointed to the company's board to help devise a rescue plan for the company which has lost many clients since the fraud emerged.
Auditors at KPMG and Deloitte have been hired to go through the company's accounts.