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Mendu Rammohan Rao has resigned as the Dean of the Indian School of Business, a privately managed business school in Hyderabad. His resignation comes a day after Satyam chairman B Ramalinga Raju confessed about the financial frauds in the company.

Rao was one of the independent directors in Satyam, which he had quit on December 29 after the company's decision to acquire stakes in Maytas Properties and Maytas Infrastructure was questioned widely and subsequently dropped.

Rao's tenure as ISB Dean was supposed to end in June.

Rao had chaired Satyam's board meeting that endorsed the company's proposal to buy the two Maytas firms linked to the family of Satyam promoter Ramalinga Raju.

Professor Rao has been the Dean of the Indian School of Business since July 1 2004.

Rao is a member of the Advisory Board of Citigroup and member of the Board of Editors, OPSEARCH – a journal of the Operational Research Society of India.

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