Both glory and disgrace
Wednesday, July 3, 2013, was the last day when the shares of Mahindra Satyam, the erstwhile Satyam Computer Services Ltd, were traded on the stock market.
The company will now be merged into Tech Mahindra.
This marks the end of a brand that saw both glory and disgrace in equal measure.
Before the infamous Satyam scandal broke out in January 2009, when Byrraju Ramalinga Raju confessed that he had been quietly inflating the company's order book for seven long years and therefore the company's finances were not as robust as they looked on paper, the firm was a part of the golden quartet of India's information technology (IT) sector along with Infosys, Wipro and Tata Consultancy Services.
Satyam, ironically, means truth in Sanskrit.
Text: Bhupesh Bhandari, Business Standard