On April 5, 2011, the SEC filed a complaint against Satyam Computer Services Limited. According to the SEC "[f]rom at least 2003 through September 2008, defendant Satyam Computer Services Limited deceived investors by falsifying the company's revenue, income, earnings per share, and interest bearing deposits-the primary indicators upon which investors rely when making decisions about whether to purchase or sell company securities. Satyam acknowledges that it falsely reported, among other items, over $1 billion in revenue in its publicly filed financial statements." The SEC alleged that these "fraudulent accounting practices violated the anti-fraud, reporting, record-keeping, and internal controls provisions of the federal securities laws."

On April 5, 2011, the SEC issued a litigation release announcing that it filed a settled civil action against Satyam Computer Services Limited charging it "with fraudulently overstating the company's revenue, income and cash balances by more than $1 billion over five years." According to the SEC, the company "has agreed to pay a $10 million penalty to settle the SEC's charges, require specific training of officers and employees concerning securities laws and accounting principles, and improve its internal audit functions. In addition, it agreed to hire an independent consultant to evaluate the internal controls Satyam is putting in place." In addition, "Without admitting or denying the allegations in the SEC's complaint, Satyam agreed to a permanent injunction against future violations of the periodic reporting provisions of Sections 10(b), 13(a), 13(b)(2)(A) and 13(b)(2)(B) of the Securities Exchange Act of 1934 and Rules 10b-5, 12b-20 13a-1 and 13a-16. The settlement also requires Satyam to hire an independent consultant and comply with certain undertakings."

On February 6, 2011, Federal District Judge Ellen S. Huvelle entered final judgment against Satyam Computer Services Limited pursuant to the consent of Satyam Computer Services Limited.