If someone acquires the Indian...
If someone acquires the Indian name, they will probably build bikes with the style of the classic Indian models, like this proposed 2004 Chief Vintage built by the current entity, but it's likely that any such bikes will not be interchangeable with recent models.
The assets of the failed Indian Motorcycle Company will apparently be sold off in pieces. The Indian trademarks and logos are unlikely to go to someone who will restart production of recent models.
After three months of attempted deal-making to get the highest price for the defunct company's assets to help repay its massive debt, it seems that the firm responsible for the asset sale has given up hope of selling the Indian name and trademarks as a package to someone who plans to restart production. Or at least it seems unlikely that anyopne will resume production of the motorcycles that the company was building when it shut its doors in October. A month or so ago, there was prediction and expectations that the company would be kept intact and that the recent models would return to production. Selling the trademarks separately also means that production is unlikely to resume at the present factory, located in Gilroy, California. Without an eleventh-hour deal, the company will be auctioned off piecemeal on January 21.
One company has said it expects to get the equipment, but some big questions remain for motorcycle enthusiasts and fans of the brand: What will happen to the name? Will someone put it on a motorcycle again? Unsubstantiated rumors have circulated that other motorcycle companies are bidding for the rights to the name, which is almost certainly the most valuable asset of the company, although the recent failure of this Indian entity has tarnished the name a bit and further strained any link to the original Indian Motocycle Company.
Recent purchasers of new Indian motorcycles never had any real hope that their warranties would be honored since the bankruptcy was announced, but they could have counted on easier parts availability if someone had resumed production of the current models. It now looks as though their bikes will be total orphans.