Hundreds of fans gathered outside the Siam Niramit Hall cheered as their favourite stars, including Amitabh Bachchan, Saif Ali Khan, Fardeen Khan, Aftab Shivdasani, Diya Mirza and Dino Morea, walked down the IIFA green carpet.
Urmila Matondkar, dressed in a red chiffon gown, floundered as the hostess, repeating her lines and announcing the wrong performances until the organisers told her she got it all wrong.
Karan Johar, who hosted some segments of the function that was held Sunday night, also failed to add any fizz to the show. However, Boman and Reitesh came to the rescue with their jokes and had the audience in splits.
The duo took pot shots at Aamir Khan's blogging and his film 'Taare Zameen Par', David Dhawan's 'Partner', and Amitabh Bachchan, who is the IIFA brand ambassador, among other stars.
The Siam Niramit Hall, which can seat 2, 000 people, was packed and Akshay Kumar and Govinda ensured the audience wasn't disappointed.
Akshay, who was honoured with a special award from the host country, made a spectacular entry, flying onto the stage on a skateboard gliding along a wire. He danced to the title song of his forthcoming film 'Singh Is Kinng' as well as past hit numbers and had the crowd asking for more.
Govinda, who bagged the best comic actor award for 'Partner', also impressed the crowd with his dance moves.
Priyanka Chopra and debutant Harman Baweja, who will be seen together in 'Love Story 2050', too gave a dazzling performance.
Best actress award winner Kareena Kapoor, dressed in a silver blouse and purple harem pants, performed on songs from her recent films 'Jab We Met' and 'Tashan'. She was followed by Katrina Kaif who danced to a medley of tracks from her hit movie 'Race'.
The 'Acid Factory', 'Mission Istanbul' and 'De Taali' teams used IIFA as a promotional ground for their forthcoming films.
Aishwarya Rai looked her best in a strapless red satin fishtail gown but did not get any awards. But Abhishek Bachchan walked away with the best style icon award.
'Chak De! India', which won critical acclaim and mass popularity, was adjudged the best film, while superstar Shah Rukh Khan and Shimit Amin respectively bagged the best actor and best director trophies.
Shah Rukh was not present at the gala and producer Yash Chopra accepted the award on his behalf. The film about a coach inspiring an Indian women's hockey team to victory also won awards for story and screenplay.
The award for the best performance in a negative role went to Viveik Oberoi for 'Shootout at Lokhandwala'. Neil Nitin Mukesh was named 'the fresh face of the year'.
Music composer A.R. Rahman was honoured for outstanding achievement by an Indian in international cinema, while veteran filmmaker Shyam Benegal and Mumtaz, a popular star of the yesteryears, won special honours for lifetime achievement.
Rahman was also named the best music director for his score in 'Guru'. H. Sridhar won the award for best song recording and Shreya Ghoshal won the honours for the best female playback singer for 'Barso re' from the same film.
The best male playback singer award was bagged by Shaan for 'Jab se tere naina' from 'Saawariya'. Veteran Javed Akhtar was named the best lyricist for 'Om Shanti Om', which also garnered awards for best special effects, best art direction, best costume design and best makeup.
The award for best screenplay was won jointly by Anurag Basu for 'Life in a Metro' and Jaideep Sahni for 'Chak De! India'. Sahni also won the award for best story for the same film.
'Chak De! India' also took home the trophy for best cinematography. Imtiyaz Ali was named the best dialogue writer for 'Jab We Met'.
Saif Ali Khan too made a surprise entry, however he didn't perform. The 2, 000-capacity hall was full, most of the audience being from the Indian diaspora.