The Rajkamal Academy of Cinematic Excellence (RACE), founded by V Shantaram in 1975, has been presenting the V Shantaram Awards from last 15 years. The academy confers three categories of awards - Gold, Silver and Bronze to directors.

This year Aamir Khan's directorial debut Taare Zameen Par has won the Gold Award for Best Film while Neeraj Pandey's A Wednesday and Marathi film Tingya got the Silver and Bronze award in the Best Film category.

Best Director Gold award as well as Best Debut Director award war bagged by Pandey. Aamir Khan got the Silver Best director award for Taare Zameen Par while Ashutosh Gowariker received the Best Director Bronze award for Jodhaa Akbar.

Darsheel Safary won the Best Actor award for his stunning performance in Taare Zameen Par. Aishwarya Rai Bachchan bagged the Best Actress for Jodhaa Akbar. Jimmy Shergill received the 'Best artiste in a supporting role' award for his performance in A Wednesday. Farhan Akhtar got Best Debut Actor for his role in Rock On. Amol Gupte was presented the Best Writer Award for TZP.

The Best Music Director award was given to AR Rehman for Jodhaa Akbar while Kiran Deohans received the Best Cinematography Award.  Late H Sridhar received Best Sound Award for the Tamil film, Dashavataram while Shree Narayan Singh was given the Best Editing Award for A Wednesday.