The exposure of Ne-Ar dimer to an intense ultrashort laser can trigger a variety of competing ionization processes in addition to the already predicted interatomic Coulombic decay (ICD). The question of how and to what extent these competing ionization processes influence the line shape of the electron spectrum obtained for an ICD is addressed to in this work. The calculations predict that ionization from the ICD and final ionic states significantly influences the line shape of the electron spectrum. The time resolved electron spectrum for an only ICD process was calculated by employing an analytical expression. A line splitting in the ICD spectrum is observed at a comparatively higher peak intensity and systematic analysis involving time resolved electron spectrum indicates that the splitting is caused due to the effect of photoionization from the final ionic state. The effects of the ponderomotive shift of the free electron released prior to the ICD step on the ICD electron spectra were also estimated.