Come Feb 27 and the world will witness the 83rd Academy Awards event. The British film 'The King's Speech' takes the lead in the nominations with the flick bagging 12 nominations. The cast of the film include British actor Colin Firth, who has been nominated for the best actor's role. Helena Bonham and Geoffrey Rush both co-starring in 'The King's Speech' have also been nominated for the supporting actor's award.

On being nominated for the best actor's role, Colin has revealed that he is not used to so much joy.

Running closely in the second spot with the maximum number of nominations is 'True Grit'. Directed by Joel and Ethan Coen, the film is based on the novel with the same title. The film stars Jeff Bridges, Matt Damon and Josh Brolin in lead roles. In the first weekend of it s release this film received $25.6 million, suggest reports.

'The Social Network' directed by David Fincher follows a close third with eight nominations. The film is based on the finding of a social networking site and the legal battles that follow. The cast of the film includes Jesse Eisenberg, Andrew Garfield, Justin Timberlake, Brenda Song, Armie Hammer, Max Minghella, Rashida Jones and Rooney Mara.

This film has already bagged this year's BAFTA awards in the Best Editing, Best Adapted Screenplay, and Best Director.

Next in the line is the psycho thriller 'Black Swan'. Directed by Aronofsky, the film stars Natalie Portman, Vincent Cassel, Mila Kunis, and Barbara Hershey in the lead. Natalie Portman has already bagged the BAFTA award for the best actress. For the coveted Academy awards Ms. Portman will be competing with Annette Bening for her role in 'The Kids Are Alright' and with Nichole Kidman for her role in 'Rabbit Hole'.

The other films also contending for the most wanted Oscars are the science fiction flick 'Inception', Danny Boyle's '127 Hours' the 'Toy Story 3', 'Winter's Bone', and 'The Fighter.'

The 83rd Acedemy Award functions will be held at the Kodak Theatre, Hollywood, Los Angeles, California. The show will be co-hosted by James Franco and Anne Hathaway.