Further to earlier reports that an Indian consortium is looking to follow (Force India owner) Vijay Mallya into F1 by purchasing the Super Aguri team, Narain Karthikeyan's manager, Mark Perkins, has confirmed that the Spice Group - a highly diversified privately held company incorporated in India and not to be confused with a popular beat combo comprising Ginger, Scary, Posh, Sporty and Baby - is looking at a deal.

"We know they are talking to two teams at the moment," Perkins told Reuters, "one of them I know is Super Aguri.

"However, what Spice do we can't really comment on," he added. "If either of the negotiations is successful and they want Narain to race for them this year, he will be delighted to take that opportunity. It should be fantastic for India and fantastic for Narain."

As it happens, A1 GP Team India seat-holder, Andaleeb Sehgal, is a leading light in the Spice Group which, according to Indiainfo.com is prepared to underwrite Super Aguri's $47m debt.

However, while Super Aguri has admitted that it is talking to potential investors, Sehgal denies that a deal has been done with the Japanese outfit.

"There has been no acquisition yet," he told Indiainfo.com. "We are talking to two teams at the moment. One of them is Super Aguri. As of now we are waiting to come up with a realistic valuation of the team. Should we find a number within our reach we will then proceed to buy."

It's thought that if such a move should go ahead, the Tata group could be involved as a co-sponsor.

The other team that Sehgal is looking at is most likely Toro Rosso, with insiders under no illusions that Dietrich Mateschitz is tired of propping up a second F1 team.

Previously, Honda's Nick Fry had said that his team was not really interested in Karthikeyan joining Super Aguri, seemingly feeling that the Indian is not capable of producing good enough feedback for the team which continues to give aid to the Leafield outfit. Then again, with Fry so keen on budget-capping, the sale of the team to a third party must make perfect sense.