Mungee Ram Bangur, a Calcutta stockbroker, and his brother Ram Coowar Bangur, started the Bangur Business empire in the late 19th century. In 1991, the Business was split into five groups, between Balbhadra Das Bangur, Niwas Bangur, Kumar Bangur and Benu Gopal Bangur (all grandsons of Mungee Ram) and Laxmi Niwas Bangur (grandson of Ram Coowar).
