Me and my father stays separately. My father left the house after my moms death and now he is living separately with his second wife and 5 year old girl. I ,my wife and my kid stay separately. My brother with his wife stays separately in bangalore.
1. I and father take care of one business.
2. My brother does not give any money to us. He takes care of himself.
I want to get rid of my father, his second wife and the kid. The reason being lavish spending of my fathers second wife.
So my main question is how to go about dividing the property and get rid f my fathers family.
Note: The shop is in my name.
My father keeps getting money from outside invest in share market and loose all the money and I have to repay all the money.What is the best solution for this.
I do not want any relation with my father family.tomorrow if something happens I do not want to take risk of that.

These is only 5 lacs in my fathers name and nothing else .No property nothing in my fatthers name other than 5 lacs.

You say the shop is in your name but not who started the business and with whose money. If his, years before you were involved, it seems to me that the only option is to buy him out. That's the ethical option. If it's all only in your name, simply put him on salary.
I don't understand why you have to pay his stock losses unless it's just family honor.
You could also force the sale of the business, if you are too intertwined with him.
Then start over somewhere else, even if you have to move.