THE INITIAL PLAN...

Entangling cross-holdings

Tata Sons to buy Tata Steel's ` 3,800 crore holding in Tata Motors

Merger of similar businesses

Tata Finance, Tata Housing Finance and Tata Capital Finance merger on the cards

Divestments for debt reduction

Tata Motors and two other group companies plan to sell a 43 per cent stake in Tata Technologies to Warburg Pincus for $360 million (`2,231 crore)

VRS, lay-offs and simplification of management structure

Tata Motors rolls out VRS, moves to a five-level hierarchy, and reduces its managerial workforce in India by 1,500 people