The London-based Asian Guild on Saturday night conferred the Bollywood Lifetime Achievement Award to Amitabh Bachchan.
Shah Rukh Khan, winner of nine Filmfare Awards, got Bollywood Star of the Decade Award.
Britain's Channel 4 television had recently voted Bachchan, 61, as one of the 100 film stars of all time.
Earlier, he was voted as the star of the millennium in a poll conducted by the BBC online.
Bachchan, who has acted in over 70 films, thanked the Asian Guild for recognising his achievements, which, he said, was possible because of the 'wonderful' opportunity the Indian film Industry gave him.
Accepting the award, Shah Rukh Khan said, "It is absolutely wonderful to be here."
Filmmaker Yash Chopra won an award for his outstanding contribution to the film industry.
Pakistan fast bowler Wasim Akram, who retired from cricket recently, was chosen for the Asian Guild Sports Award.
Other recipients were Professor Raman Bedi (Community Service Award), Sir Devinder Maini (Science Award), Krishnan Guru Murthy (Media Award), Naaz Coker (Asian Woman of the Year Award) and Naresh Goyal (Commerce and Enterprise Award).
The Asian Guild Awards 2003 were presented at a gala dinner held at the Gosvenor House Hotel.
Over 700 guests, including Lord Navneet Dholakia, Lord King, Lord Peter Archer, and businessmen S P Hinduja and G P Hinduja attended the function.
Lord Archer said: "We must acknowledge contributions made by Asians to Britain and continue to do so. We celebrate our diversity and recognise the fantastic contribution made by Asians to the British society."
Press Trust of India
