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The replacement will come into effect from January 13. "Satyam Computer Services Ltd will be deleted from the 'Dow Jones India Titans 30 Index' and replaced by Axis Bank," a statement from Dow Jones Indexes said.

"Satyam Computer Services Ltd is being removed due to financial distress," the statement said.

The Hyderabad-based software firm has already been removed from various indices -- Nifty and the Sensex -- computed by National Stock Exchange and Bombay Stock Exchange after the revelation of over Rs 7,000-crore (Rs 70 billion) fraud by the company.  

Sensex: Satyam out, Sun Pharma in
NSE removes Satyam from Nifty
The Satyam fiasco: Complete Coverage