"This is to announce that we, Adhuna and Farhan, have mutually and amicably decided to separate. Our children remain our priority and it is immensely important to us, as responsible parents, that they be protected from unwarranted speculations and public glare," read a joint statement issued by the Akhtars.
"We sincerely request that we are given the privacy that is required at this time to move forward in a dignified manner," the statement read further.
Farhan, 42, is the son of veteran writer-lyricist Javed Akhtar and his former wife Honey Irani, and Adhuna, who is six years older to the "Rock On!!" actor, is a celebrity hairstylist.
They exchanged wedding vows in 2000 and have two daughters together named Shakya and Akira.
While Farhan made his directorial debut with "Dil Chahta Hai" in 2001, it was the same film that launched Adhuna's career as a hairstylist in Bollywood. She now runs salon chain BBlunt.
Farhan is an accomplished multi-faceted talent in Bollywood. He produces, directs and acts in films, and he's also a writer and singer.
His split with Adhuna comes as yet another end to a real life love story in tinsel town after actor Hrithik Roshan and Sussanne Khan's split in 2013.
Adhuna, who was mostly seen by Farhan's side at red carpet events, parties and functions, was nowhere to be seen with him while he promoted his last release "Wazir".