InterGlobe Enterprises is in advance talks with Singapore-based Everstone Capital to acquire fast-food chain Burger King's India franchise in a deal worth Rs 1,400 crore, two people aware of the matter told The Economic Times.

Two US-based buyout firms and local private equity firms that were in the fray earlier have backed out from the deal, the sources told the newspaper.

Discussions with InterGlobe's Rahul Bhatia are in the final leg but may not necessarily lead to a deal, said the report.

The development comes at a time when Bhatia is locked in a dispute with his partner Rakesh Gangwal over the airline business, IndiGo, after the latter wrote to market regulator Sebi, detailing his concerns over violation of governance norms and his discomfort with related party transactions (RPT), alleging that these transactions benefited Bhatia.

Bhatia is involved in aviation, hospitality and other travel-related business and personally owns three upmarket restaurants located in the Delhi NCR.

Neither Bhatia nor Everstone Capital responded to ET's requests for comment.