The IT major, Satyam Computer Service is going to face a tough time in the coming times as its bankers are freezing the company's account subsequent to admission of fraud carried by its Chairman, B Ramalinga Raju.

Foreign lender, Citibank has frozen more than 30 accounts of Satyam with a view to guard its $70 million exposure with the company. These accounts were operational as trade receivable accounts of the company. This move by the banker is likely to affect the company's liquidity that is already under question.

Citibank used to mainly meet Satyam's working capital requirements and by freezing the company's trade receivable accounts, it has worsen the situations for the IT major. Satyam's interim CEO, Ram Mynampati said that the company's liquidity conditions are not at a healthy stand and they were eying at the trade receivable to ease their liquidity crisis.

The other banks that have exposure with Satyam include ICICI Bank, HSBC, Bank of Baroda and BNP Paribas. However the Indian lender said that they do not have any significant business exposure to the company. Bank of Baroda Executive Director V Santhanaraman said, "Bank of Baroda has no major exposure to Satyam Computer except that we have some current account deposits of Satyam, which are collection accounts."

Even ICICI Bank said that they only have a marginal exposure of about Rs 3 crore on account of a forward contract with the company. Besides the bank did not have any other fund-based exposure.

Further the banks have also blocked fresh payout to the two other companies that are controlled by Mr Raju and his family. These companies are Maytas Properties and Maytas Infrastructure.

After the confession by Raju about the manipulation of company's balance sheet, shares of Satyam fell by almost 78% to about Rs 40 at the Bombay Stock Exchange.