The awards, constituted by well-known cine magazine 'Stardust', are aimed at 'Generation Next' who would rule Bollywood in times to come, and to promote and encourage new talent.
The glittering awards function was held at the MMRDA Grounds at Bandra-Kurla complex, a Mumbai suburb, had specially devised entertainment acts, including song and dance performance by leading artistes like Urmila Matondkar, Kareena Kapoor and the new hearttrob Shahid Kapur against lavish sets coupled with lasers, special effects and acoustics to create an unique audio and visual impact.
The evening saw Shahid nd Amrita winning the 'Best Actor' and 'Best Actress' awards.
The 'Supporting Actor' award went to Boman Irani for his star turn in 'Darna Manna Hai' and the 'Best Supporting Actress' to model-turned-actress Priyanka Chopra for her role in 'The Hero - Love Story of A Spy'.
Raj Kumar Hirani won the 'Young Film-maker of the Year' award for hit comedy 'Munnabhai MBBS'. Lucky Star Entertainment walked away with the honour of 'Best Film Produced by New Producer' for Partition saga 'Pinjar'.
Irfan Khan, for his brilliant under-played potrayal in 'Hassil', won the award for 'Negative Role', with Sameera Reddy winning the 'New Face of the Year' prize for 'Darna Manna Hai'.
The best new lyricist was Ibrahim Ashqk for 'Koi Mil Gaya', the 'Best Male Playback Singer' was Kailash Kher for 'Waisa Bhi Hota Hai', 'Best Female Playback Singer' was given to Soumya Haroah for 'Samay' and 'Best Music Director' honour was taken by Vishal Shekhar for his musical hit 'Jhankaar Beats'.
Kareena got a nod from the jurors with 'The Best Jury' award for 'Chameli'.
'Stardust' had conducted a poll among its readers, and the 'Readers' Choice Award' was given to Sanjay Dutt for his comic turn in 'Munnabahai MBBS', Preity Zinta for 'Kal Ho Na Ho' and Best Director to Rakesh Roshan for his sci-fi 'Koi Mil Gaya'.
Superstar Amitabh Bachchan had his presence felt, getting a Special Award for 'Outstanding Performances' during 2003 and actress Hema Malini was presented an award for being 'A Role Model for the New Generation'.
'Jumping Jack' Jeetendra was presented an award for being the 'Pride of the film Industry'. Indiafm