The annual Dadasaheb Phalke Academy Award goes to the senior producer of Kannada films C.V.L.Sastry. The award of 'Legendary Film Producer' was bestowed on CVL Shastry on last Thursday in Mumbai. Popular yesteryears Hindi cinema actor Rajesh Khanna presented the award trophy and certificate. Ramesh Prasad and Santosh Singh Jain President of Dadasaheb Phalke Academy were also present.

An industrialist and key person in touring talkies revolution in Karnataka C.V.L.Sastry produced films like 'Malaya Marutha, Aaseya Bale and Kalla Kulla' all of them starring Dr.Vishnuvardhana. 'Malgudi Days' for television based on R.K.Narayan's novel in the direction of Shanker Nag was produced by Shastry held the position of President of Karnataka Film chamber of commerce. Smt.Parvathamma Rajakumar and R.Lakshman received the similar honor in the previous years.