@Kalyan, Each you can handle conflicts within the workplace by communicating with both parties. If the victim is found, then tell a word to not discuss the same anymore inside the workplace. Then talk to the other party to clear the misunderstanding or problem between members. Report to the manager regarding the same to have a talk with both the parties.
The other way around is to compromise between both the parties. Do not talk directly about the mistake or problem with both, which will increase the problem than settling the problem.