Various ecological models have made significant contributions to improving our knowledge of prey-predator interactions. In this study, we develop a mathematical model of two predators feeding on a single prey species.We also consider that the two predator species engages in interspecific competition with each other for food and shelter as well as intraspecific competition among themselves. The predation functions for the two predators are considered to be the same and follows Holling Type-I functional response. We further suppose that one of the predators has an advantage over the other in terms of hunting strategy. All biologically viable equilibrium points are calculated analytically and numerically. The essential mathematical aspects of the model have been carefully examined in terms of stability and bifurcations arising in a few particular circumstances. To illustrate and support the analytical results, numerical simulations are performed.