Another legendary marque could be sold off to an Indian firm with news coming out today claiming Mahindra & Mahindra (M&M) is one of a number of firms interested in purchasing Italy’s Bertone. The famed coachbuilder and design house has been placed under administration and officials are now assessing seven bids they have received from international companies including bids from India and Japan.

The bidders reportedly include M&M, a company that previously placed a bid for Jaguar and Land Rover, as well as the Japanese-owned engineering firm PCL Group currently based in Germany. There have also been reports stating that rival design house Giugiaro is also interested in buying Bertone, although there is no real certainty in any of the bids, reports Automotive News.

One of Bertone’s administrators stated that any formal bids would come to light in about three months, but it’s unlikely that Bertone will ever be declared bankrupt.

These days it seems as though coachbuilding is experiencing a downturn - it wasn't long ago that Pininfarina was also on the verge of bankruptcy. But the success of boutique car manufacturers such as Fisker, especially in the electric market, reveal that there is room in coachbuilding to succeed and that it is possible to turn Bertone around in the future.

Pictured above is Bertone’s B.A.T. 11 concept vehicle unveiled earlier this month. The concept, which is based on the Alfa Romeo 8C supercar, was meant to be displayed at the Geneva Motor Show but didn’t because of financial reasons.