"The foundation regularly collaborates with various organisations to stage plays so that the two fraternities - business and arts - can come together to encourage and promote diverse forms of arts in the country," said Foundation chairperson Sangita Jindal.
"This is our first cultural event in Delhi," she added.
"Tarkash Mein Paanch Teer", a collection of Akhtar's favourite poems from his earlier anthology titled "Tarkash", was released on the occasion.
"Kaifi Aur Mein" is a tribute to legendary lyricist and poet Kaifi Azmi, Shabana's father.
The JSW Foundation is promoted by JSW Enterprises.