NEW DELHI -- Indian police say a well-known liquor baron Ponty Chadha and his brother killed each other in a shootout at their farmhouse residence on the outskirts of the Indian capital after reportedly failing to settle a business dispute.

Ponty Chadha was the sole liquor distributor in India's largest Uttar Pradesh state. He also had business interests in real estate, sugar mills and film production in northern India.

Police spokesman Rajan Bhagat said the brothers, who were business partners, died after exchanging fire on Saturday. No other details on the shooting were immediately available.

Gaurang Kanth, an attorney for Ponty's brother Hardeep Chaddha, told reporters that he had met his client Friday and that he was apprehensive about negotiating with his brother over how to divide their wealth.