Satyam Computers is now Mahindra Satyam

Two months after taking over scam-tainted Satyam Computer Services, Tech Mahindra on June 21, 2009 renamed the IT major as Mahindra Satyam.

The logo will be adopted from the Mahindra Group. “This strategic move paves the way for the emergence of a robust brand, which draws from the core values of the Mahindra group and the inherent strength of the Satyam brand,” said a company statement here June 21, 2009 evening.

“Customer centricity, high standards of corporate governance, unimpeachable ethics form the cornerstones of the Mahindra Group,” said Mahindra Group vice chairman and managing director Anand Mahindra.

“This rebranding exercise symbolizes an amalgamation of the Mahindra Group’s values with Satyam’s fabled expertise, even as it retains that part of Satyam’s identity which signifies commitment, purpose and proficiency of the organization and its people,” the statement said.

Satyam’s executive vice chairman Vineet Nayyar described the move as “a significant milestone towards the recovery of the company”.

Tech Mahindra, owned by the $6.3 billion Mahindra Group, bought the scam-hit IT company in an open auction in April 2009.

The re-branding comes six months after Satyam’s founder and then chairman B. Ramalinga Raju confessed to a Rs.78-billion accounting fraud.

The government launched a probe, superseded the board, and put the company up for sale in open auction.

Ramalinga Raju, his brother Rama Raju, former chief financial officer Vadlamani Srinivas and five other accused are currently in jail.

Chandrayaan-1 enters operational lunar orbit

Twenty-one days after launch, Chandrayaan-1, India’s maiden moon craft has it seems finally reached its home orbit. It is now in an almost 102 kilometre from the moon. The satellite’s onboard engine was fired for 58 seconds on Nov 12, 2008 at about 6.30 pm.

ISRO officials say preliminary indications are that it has reached its designated orbit. Among its first tasks in the next few days will be to release the probe that carries the Indian national flag on to the lunar surface.

After that it will begin its scientific exploration which will last two years, which includes mapping the lunar resources, preparing a three dimensional atlas of the moon and searching for water on the lunar poles.