It has learned from the sources that the Gupta brothers, who have been backbone of the Delhi-based MGF Group, have announced a split in their business.

The source mentioned that while there have been differences between Shravan Gupta and his younger brother Siddharth Gupta for some time but the Group has been able to get a family settlement where the differences have been amicably sorted out, and a legal document has been signed.

While the source mentioned the fact that the Delhi-based boutique law firm Mine and Young handled the legal aspects of the settlement, but the calls made to the company remained unanswered.

It is to be mentioned here that Shravan Gupta, the face of Emaar MGF Land Ltd, the group’s flagship in which Dubai’s Emaar Properties PJSC has a 43.86% stake, will continue to head this firm while the assets of MGF Developments are expected to be divided among the two brothers equally.

Adfactors PR Pvt. Ltd, the public relations agency for Emaar MGF, said that as the primary goal of the company is to provide quality products to our customers and create value for all stakeholders and hence any restructuring is for the benefit for the company.