From Ratan Tata‘s letter to all Tata companies (dated: Nov 6 2008):

Under the circumstances I consider it essential that each of our companies should consider:

• the conservation of cash to the maximum extent possible
• draw down all loans / lines of credit from banks and institutions to the maximum extent possible
• expeditiously finalise pending load and funding agreements, even if they involve accepting higher rates of interest

Companies should also take finite steps to:

• improve operational efficiency
• aggressively implement restructuring of internal cost framework
• drastically reduce operating expenditure
• defer non-essential capital expenditure and capacity expansion
• put on hold any plans for acquisitions unless considered strategically critical