Saab 9-5 Sedan.

While Saab goes through the bankruptcy process, rumours are pointing to a possible resurrection of the quirky Swedish brand by none other than Mahindra & Mahindra of India.

According to Automotive News Europe, Mahindra is hoping to meet with the Swedish administrators who are liquidating the company, with a view to buying either the whole company or bits of it.

Mahindra already owns a 70 percent stake in Korean SUV maker SsangYong and owning a luxury car brand like Saab would give it a wide penetration of the market. However, Mahindra would need to get the go-ahead from Saab's previous owner, GM, before going ahead with such an investment.

GM recently blocked a Chinese investor's attempts to save Saab from bankruptcy, as it didn't want its own technology, still present in Saab products, to land in that company's lap.