It's between core members, directors Anurag Kashyap and Vikas Bahl. Sources say that the maverick filmmakers have lost their previous camaraderie and now it's strictly business between the two. The only time they ever talk is for work.
But what brought on this sudden change in their friendship?
Those who know them say that it's because of their changing fortunes.
Vikas, who was a relatively lesser known director, has hit it big with Queen. His next Shaandaar is highly anticipated with top actors like Shahid Kapoor and Alia Bhatt in the lead.
Anurag, on the other hand, has been at the receiving end of some very nasty comments for Bombay Velvet.
In comparison, Queen has done much better than Bombay Velvet. For Phantom Films, the latter undid everything that Queen had achieved - both in terms of money and reputation.
So our guess is that it's only human nature for such frustrations to build between peers. When fortunes change, equations tend to alter.
We hope that Anurag and Vikas tide over the rough patch and along with partners Vikramaditya Motwane and Madhu Mantena get back to making good films. After all they are some of the brightest minds in cinema today.