The question, in my opinion is of whether the leadership is up to the task and can offer something beyond a return to the seventeenth century, which knowing the intellectual paucity of Indian leaders after being neutered by the British after roughly 1800 seemed to lack.
Does the rebellion get declared a jihad by an established Muslim ruler? This would make it legal according to sharia, but if not, rebellions are strictly haram so it would have a hard time getting support from the Muslim population.
Can the Hindus and Muslims put aside their differences long enough to oust the British?
Do they manage to secure foreign aid (I’d doubt it but stranger things have happened)
The odds would be stacked against them so I really consider this an improbable scenario.