Corporate restructuring is a strong tool and a blunt strategic decision for rapid progress, glasnost & perestroika and works as elixir for the company in this throat cut competitive market. Corporate restructuring is vital for survival of a company in this present competitive environment.The mergers and acquisitions have evolved as most used and successful strategy of corporate restructuring. In last 20 years, India has registered increase both in terms of value of deals and number of deals. An applied research is being initiated in this area with the help of descriptive study to make an extensive review of literature in order to enhance present level of understanding in the mentioned area, present the current scenario of M&A activity in India, gain an insight into the success or failure of M&As and explore the future research scope.