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Published by on Monday, June 22, 2009 at 8:58:00 PM

Satyam Computer Services is Now Mahindra Satyam

Tech Mahindra SatyamTo recover from the worst fraud scandal in the corporate in India Satyam Computer Services decided on Sunday it would re name itself as Mahindra Satyam, this is the latest step to recover from the past problems faced by Satyam.

Who is Mahindra; Tech Mahindra is a tractor and utility vehicle manufacturer in India, which is very famous by Mahindra & Mahindra, who has won the auction, which was held in the month of April to control the stake in Satyam.

As we know Satyam was one of the India’s largest IT Company, with 50,000 and above employee power and with a great market capitalization of $7 billion and above. These figures were before B. Ramalinga Raju the Chairman of Satyam said in January that he had falsely claimed the assets of about $1 billion in cash and inflated the Organization’s operating margins.

All the investigators, who were in the investigation of Satyam fraud case, said that more than 10 to 12 people in the Organization’s Finance department were also in the fraud.

As we know Satyam is the provider of back office and IT services for many companies, including General Electric, Nestle. Government of India had taken the control of the company when it came in the fraud position and after some time decided to push a quick sale to prevent all losses which will be occurring in the Country, The position of $71 billion outsourcing industry is saved.

Tech Mahindra, which is a leading Telecommunications service provider in India, is also owned by the BT Group, known as the British Telecommunications. Hope this new brand will re-energize the organization and help all the stakeholders. Good luck to Vineet Nayyar, Executive Vice Chairman, of new Satyam Board.
Published by IzajAhmed Shaikh.
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I am, Mr. IzajAhmed Shaikh, a Computer Professional and a Pro. Blogger, who belongs to Shahabad, Karnataka India. My basic Qualifications are B.Sc., and M.C.M. done from University of Pune., formerly known as, Poona University,. I like to write articles based on my personal experiences.