TIMELINE - Satyam chief quits, shares plunge

SINGAPORE (Reuters) - The chairman of Satyam Computer Services, India's 4th-biggest software services exporter, resigned on Wednesday, saying the company's profits had been inflated over recent years, sending Satyam shares plunging more than 70 percent.

Following are recent key events at Satyam.

Dec. 16 - Satyam announces plan to buy two building firms part-owned by the outsourcer's founders for $1.6 billion. It does a rapid U-turn, killing the deal just 12 hours later following a 55 percent plunge in the company's share price in hectic U.S. trading.

Dec. 17 - Chairman B. Ramalinga Raju says the about-turn reflected negative investor reaction. Satyam shares continue to slide, falling by a third on concerns about corporate governance.

Dec. 18 - Satyam board says will meet on Dec. 29 to consider a share buyback in a bid to restore confidence.

Dec. 23 - Satyam barred from business with the World Bank for eight years for providing Bank staff with "improper benefits". Its shares fall another 14 percent to their lowest in more than 4-½ years.

Dec. 24 - Satyam shares rally amid market talk the outsourcer may have become an attractive takeover prospect given the steep share price fall.

Dec. 25 - Satyam says it asked the World Bank to withdraw "inappropriate" statements.