Akshay played the role a patriotic naval officer in the movie, who ends up in jail after killing the lover of his wife.
The movie, directed by Tinu Suresh Desai, was loosely based on the murder of Prem Ahuja by Commander K M Nanavati.
Rajesh Mapuska will be honoured as the best director for his Marathi film "Ventilator".
The jury, headed by filmmaker Priyadarshan, chose Amitabh Bachchan-starrer "Pink", a female-centric court room drama, as the best film on social issues.
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Sonan Kapoor-starrer "Neerja", a story on flight attendant Neerja Bhanot who was killed by terrorists while saving passengers after the plane was hijacked, bagged the best Hindi film award.
The actress received a special mention for her critically-lauded performance.
"Dhanak" was named the best children film while Telugu movie "Sathamanam Bhavathi" was chosen as the popular film.