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The finance is considered as heart and blood of organization. Organization needs fund for various activities. The major source of finance depends upon the financial system of country. Every country depend on other country for some aspect. The multinational firm started operation in various countries. The organization has started to find out various source of finance. The firm has started analyzing the various option available to increase the finance from other country. Generally it is observed that to meet the working capital requirements business need short term fund which can be raised through money market instrument and the long term fund which is require for growth purpose can be raised through capital market instrument.

Corporate restructuring has become the major source for the economic development. Indian firms are exposed to the competition and competitiveness across the world. Hence, mergers and acquisitions have been accepted as a major strategic decision by the corporate at the wide level. To sustain with the world level corporate competition, combinations, market share Indian companies have gone for various combinations in the Indian industry. There has been an excess of mergers and acquisitions happening in the Indian industry. Tata Group of companies is one of the proactive respondents to such dynamic Indian industrial environment. It is said that Jamsetji Tata was always ahead of time and as result, a many leaderships and pioneering activities are booked with their names. The group is 148 years old devoted to Indian corporate sector. They have been always the proud for India due to their noble contribution to Indian economy. The Indian conglomerate, was the first for cross border deal, was the first to start India's first integrated power plant, was the first to gift "White Elephant" - Taj, India's first luxurious hotel, was the first to think for Indian family of four to offer the cheapest car "Nano", and water purifier "Swach" and many more. The present study focuses on studying the pre and post-merger financial performance of the selected Tata group companies. Tata group has booked many corporate restructuring in different forms. The researcher puts in the efforts over here to analyse the effect of merger and acquisition decision of the company on the profitability, liquidity, leverage, operational efficiency of the merged company. First chapter deals with the conceptual clarity of corporate restricting as broad umbrella for the various types of changes to be made to existing structure of the corporate. The details like forms, type, reasons, motives and major merger and acquisition cases at the worldwide, in Indian industry Second chapter deals with the literature review done by the researcher. Researcher has taken various existing literature from different sources, which relates to the study. It includes the scholarly articles, research papers from reputed journals, online journals from authentic web sites and thesis related to the topic of the researcher are even considered.

Every society has their own social rules, norms, regulations and social orders for their smooth functioning of the society. Indian traditional society has its own Hindu social order with hierarchy of varna or caste system emerging from 'Deva Vani' (divinely ordained) enshrined in the Vedas. The framework of the Hindu social order is formed by the Brahmins. They established their position at the top category in the society and others at the bottom category forever. In fact, the position of these castes in the socio-economic and power hierarchy is, by and large, analogous to that in the ritual or religious hierarchy through an asymmetrical caste in nature that are more distinctively visible even today. Indian people practice various rules in their everyday life. But there is lack of unique and single universal social order and system for the better functioning of the society. Social order from the times of Indian traditional society till the twenty first century, the society is functioning according to Hindu social order. There is gradation in the system creating hierarchy and discrimination of the individuals at the bottom. Since Indian society is divided into numerous castes and sub castes, numbering roughly over four thousands, besides the sizable number of tribes and other religious communities. So here it becomes imperative to understand the deprivation part. Therefore sociological analysis are broadly put within the perspective from below. Endorsing the views and experiences of those placed at the bottom of the social hierarchy. Ambedkar philosophy which tries to reconstruct Indian society as egalitarian one. He deconstructed the Hindu social order because certain collectivities of the Indian society were excluded and dominated by others for centuries. And reconstructed a new social order based on democratic values. Ambedkar says ideal society should be mobile, should be full of channels for conveying change taking place in one part to other parts.