The stake of chairman of Satyam Computer Services Ltd, B. Ramalinga Raju and his family declined to 5.13% from 8.27% following large scale selling of shares by the institutional investors. The company is facing trouble since allegations of corruption were made on Mr. Raju while executing some important deals. The World Bank has also banned the company for eight years on the basis of bribery charges.

Raju is considered involved in corporate governance and self-dealing scandal when he tried to buy two infrastructure firms Maytas Properties Ltd and Maytas Infra Ltd, owned by his sons. However, the decision of acquisition was rolled back after opposition from the share holders and plunge of stocks by 55 per cent.

The company said in a filing before the Bombay Stock Exchange that Raju family holds only 12.6 million shares in the company. Their 3.13 per cent stake in the company is already transferred to the lender's account under pledge invocation. It was already disclosed that shares of Raju family had been pledged against money they had borrowed.

The head of global communications at Satyam computer, T. Hari said, "The risk of their holding being sold by the lenders now appears to be higher than thought earlier, since 3.14% has already been sold in the market, 3.13% is already transferred to lender's account under pledge invocation and the balance 1.8% is still under pledge with the lenders, to be invoked at any time."

Shares of company fell 2.11 percent and ended at Rs177.55 on BSE on Friday.