It is planning a one-time settlement of $663 mn to its UK pensioners
Company said it would close its final salary pension scheme to accruals from March 31
From April 1, 2017, employees will save for their retirement through a new pension scheme
Statement comes even as UK workers back Tata's pension plan in a bid to recsue thousands of jobs
Tata Steel has held talks to merge its European assets with Germany's Thyssenkrupp
Tata Steel doesn't expect to be able to pay contributions needed to close the deficit
Mistry had earlier drawn the Board's attention to Tata Steel Europe, which had been earning negative returns
For sale of its loss-making speciality steels business for an enterprise value of 100 million pounds
Sources say Ratan Tata is against selling the UK business in whole or parts
In early July, the company announced cancellation of sale of its UK business and initiated talks with the German company for a possible joint venture
Tata Steel said on Friday it had put the process of selling its major British assets on hold
Tata Steel put its British operations up for sale in March threatening thousands of jobs
Company in JV talks with ThyssenKrupp for entire Europe business
Process could be halted for some time; British business minister to attend company's board meeting today
Firm to announce sale of some speciality businesses; Sajid Javid, Britain's Business Secretary, to meet Cyrus Mistry soon
Mumbai-based steel giant had announced plans to auction its Port Talbot steelworks in Wales earlier this year
In March, Tata Steel announced restructuring of its European portfolio that included potential divestment of Tata Steel UK
Analysts feel deal may have to be recalculated as buyers will have to consider Britain's trade ties with other European nations, making it tough for the firm
Exit from EU will help Tata Steel revise British Pension scheme, it largest liability at UK operations
Company, to finance the bid, has lined up three UK high street lenders, large Indian banks and several funds and equity investors