The Times of India reports that the Indian bid is worth around €50 million, and the team would employ Swiss driver Neel Jani, who has an Indian father.
No-one has yet met the asking price of €65 million set for the team by BMW motorsport director Mario Theissen. A €45 million bid by team founder Peter Sauber has been rejected. The deadline for bids was Friday.
Reuters reports that Theissen has said BMW-Sauber received several rescue proposals last month. The team has applied to keep its place in Formula One next year.
