Actors Jeetendra and Ranveer Singh along with filmmaker Sanjay Leela Bhansali received the Master Dinanath Mangeshkar Awards in Mumbai on April 23.
Jeetendra, 74, received the Lifetime Achievement Award while Mr Bhansali and Ranveer received Special Awards for direction and acting for their film Bajirao Mastani.
Mr Bhansali, 52, said that he considers the Mangeshkar family a huge inspiration in his life.
"My mother is present here and she is happy. She knows how big a fan I am of the Mangeshkar family. Not a single day has passed in my life where I didn't listen to their songs. I've not only heard them but learnt a lot about life from their compositions. This is a very big day for me. This award will be very special for me and my mother," said Mr Bhansali.
Jeetendra said that he was honoured to receive the award and considers blessed to be born in the lifetime of singers Lata Mangeshkar and Asha Bhosle.
"I thank you for this honour. But a bigger award for me is that I am born in the lifetime of Lataji and Ashaji. I think it is a lifetime achievement for us to hear them," said Jeetendra.
Jeetendra featured in films like Himmatwala, Tohfa and Dharam Veer.
Ranveer, who is currently busy shooting for Befikre in Paris, addressed the gathering through a video message.
"I wish I was there today. I am finding it difficult to describe what it means to me and to be recognised by one of the greatest artists of all time. Today, I feel the journey of Bajirao Mastani has been fulfilled. I promise to work harder and make you more proud in the future," said Ranveer.
Other winners who received awards include Pandit Ajay Chakravorty and Marathi actor Prashant Damle.