Who was TN Manoharan? Man Who Revived Satyam Computers Passes Away

The former chairman of Canara Bank and the driving force behind Satyam Computer's comeback, TN Manoharan (69), a chartered accountant and Padma Shri recipient, died in Mumbai on Wednesday morning.

Manoharan, who was also the Administrator of Lakshmi Vilas Bank, was the Government Nominee Director during Satyam Computer Services' turnaround and was well-known for his work ethic and financial sense.

He frequently described his efforts to restructure the scandal-plagued Satyam as a national service and said that it was his responsibility to protect the reputation of India's corporate community.

Manoharan worked carefully to let investors and prospective purchasers realize that it was the individual, not the business, that was compromised, all while fulfilling his task to clear up the accounting issue and find a suitor for Satyam. In an article on Manoharan, author V. Pattabhi Ram points out that he performed his job so effectively that nearly 95% of Satyam's staff remained with the company.

In addition to serving on Reserve Bank of India committees and as a Founder Partner at the chartered accountancy firm Manohar Chowdhry & Associates, he also held the position of Non-Executive Chairman at Canara Bank for five years. Despite not being a career banker, he was a chartered accountant who helped the bank with strategic direction. Under his leadership, Canara Bank increased its asset growth while maintaining quality, aggressively recovered non-performing assets, and optimized costs.

Manoharan was the son of a freedom warrior and came from a tiny town in Tamil Nadu's Vellore area. After finishing his post-graduation studies in business and law, he became a chartered accountant in 1983.

He has also authored taxation books for professionals and students and mentored CA students as a teacher. In addition, he co-wrote The Tech Phoenix: Satyam's 100-Day Turnaround, a book that details Satyam Computer Services' crisis and comeback.

Additionally, he contributed to the Group's risk management procedures while serving as Lead Independent Director at Mahindra & Mahindra. Additionally, he served as an Independent Director at IDBI and the National Bank for Financing Infrastructure and Development. In addition to being the previous president of the Institute of Chartered Accountants of India, he was the chairman of the Confederation of Indian Industry's committee on Accounting Standards and Taxation.

Manoharan is survived by his wife and two daughters.