Report indicates talks between Tata and the PSA Group are moving quickly regarding the loss-making luxury car maker.
The Press Association claims it has seen a "post-sale integration document" that's making its way around Jaguar Land Rover.
The document reportedly talks about cost savings which will be achieved after the British automaker is sold to the PSA Group, which currently operates the Peugeot, Citroen, DS, Opel and Vauxhall marques.
One source told the Press Association "things are moving quickly behind closed doors".
A Tata spokesperson said to Reuters, "As a matter of policy, we do not comment on media speculation, but we can confirm there is no truth to these rumours".
Tata's latest denial follows on from statements to the media, including one in late December, reaffirming the Indian firm's long-term commitment to the luxury automaker.
Thanks to falling demand for diesel vehicles, Brexit uncertainty, write downs, and a slow down in the Chinese economy, the company suffered a £3.4 billion ($6.4 billion) loss in the final quarter of 2018.
The PSA Group has made waves recently with its successful, and surprisingly quick, turnaround of Opel/Vauxhall. The company's management has also declared it is interested in discussions regarding mergers and acquisitions.
“On principle we are open to opportunities that could create long-term value for PSA Group and its shareholders,” Alain Le Gouguec, a spokesman for PSA, told Reuters after this latest Jaguar Land Rover report broke.