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Devdas, India's entry for the 75th Annual Academy Awards, failed to make the shortlist in the foreign films category.
Sanjay Leela Bhansali's Rs 500 million musical extravaganza starring Shah Rukh Khan, Madhuri Dixit, Aishwarya Rai and Jackie Shroff in the lead, lost to The Crime Of Father Amaro (Mexico), Hero (China); Man Without A Past (Finland), Nowhere In Africa (Germany), Zus And Zo (The Netherlands).
The nominations were announced at a pre-dawn ceremony in Los Angeles, after they were decided by 5,816 Academy of Motion Picture Art voters, whose ballots had been kept under lock and key by auditors since January 29.
Bhansali's movie, known more for its glittering sets and cast than a serious adaption of Sarat Chandra Chattopadhyaya's classic, failed to join Mother India, Salaam Bombay! and Lagaan, all of which managed an entry into the best five but failed to bag the golden statuette.
Based on Chattopadhyaya's 20th century classic, the film follows the love triangle between Devdas, Paro and Chandramukhi, adapted by Bollywood in three different eras.
Earlier, Devdas was invited to a special screening at the prestigious Cannes Film Festival.
Among the Hollywood films, Chicago, Gangs Of New York, The Hours, The Lord Of The Rings: The Two Towers and The Pianist have been nominated for Best Picture.
Click here for a complete list of Oscar nominees