The big wigs of India Inc came together in Mumbai last night for this year's India Business Leader Awards, reports CNBC-TV18.

All roads led to the picture-perfect Taj Lands End in Mumbai on Thursday as India's corporate captains gathered by the Arabian Sea at CNBC-TV18's India Business Leader Awards 2007.

The evening started off on a musical note with a scintillating original composition from renowned violinist L Subramaniam and then moved to things more serious - the awards, of which there were plenty.

Including Tulsi Tanti of Suzlon Energy for the most promising entrant into the big league to Kishore Biyani of Pantaloon for most succesful first generation entrepreneur and even a special award for the government's crisis man and Sebi Chairman M Damodaran for his contribution to the cause of Indian business.

"For those who are young, no matter where they are - in schools, colleges, setting out in business, I think what is important is to recognize this is India’s great moment and they are part of India’s great moment and they must seize that moment," said M Damodaran, Chairman, Sebi.

The evening culminated with the year's biggest awards going to KV Kamath of ICICI Bank as the outstanding Business Leader of the Year and M&M's Anand Mahindra, who was selected as the Asia Business Leader of the Year. The winners were delighted to say the least.

"The team of ICICI truly deserves of this award, because without that team, we would not have been able to lead the transformation that you mentioned and indeed that transformation required some early bets," said KV Kamath, MD, ICICI Bank.

"Awards like this are important not only because they spur individuals on but because they are meaningful to our entire company and that is why this is something very special. I think our entire company and very energized by having received this award," said Anand Mahindra, VC, M&M

And the special night's very special moment was when Reliance Industries Chairman Mukesh Ambani walked up onto the stage to collect the Hall of Fame award on behalf of his late father - the legendary Dhirubhai Ambani.

"Dhirubhai for me, lives in me, I don’t think about him in the past. All our aspirations for all of us at Reliance think about him in the present. He was truly unique, a unique leader who could make ordinary people achieve extra-ordinary results," said Mukesh Ambani, CMD, RIL

All in all, this was an awards function and an evening that will be etched in India Inc's memory for a long time to come.