The veteran, who died in January at the age of 66, was popular in the international circuit for his performances in movies like "East Is East," "Gandhi," "City of Joy" and "Wolf".
Apart from Puri, "Star Wars" actress Carrie Fisher, her mother Debbie Reynolds and Bill Paxton were also remembered and honoured at the ceremony which was held at the Dolby Theatre.
An emotional Jennifer Aniston introduced the segment and paid tribute to Paxton, who died on Saturday and was not included in the video montage.
The segment ended with Fisher's Princess Leia saying, "May the Force be with you."
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While photos and clips played on the screen, Grammy and Tony-nominated singer and songwriter Sara Bareilles performed a cover of Joni Mitchell's "Both Sides Now."
Following Bareilles' performance, the Academy featured an extended photo gallery of more than 200 filmmakers, artists and executives on its website.
However, Australian film producer Jan Chapman's photograph was mistakenly used in the montage to accompany the name and dates of Janet Patterson, a four-time Oscar nominee for costume design, who died in October last year.