Chancellor Zafar Sareshwala conferred the 'honoris causa' (doctor of letters) on Khan and Rekhta Foundation founder Sanjiv Saraf at the sixth convocation of the university, for their contribution in the promotion of Urdu language and culture.
Expressing happiness on being conferred the honorary doctorate, Khan said the honour would make his (late) father happy as he was a freedom fighter and held Maulana Azad and also education in high esteem.
The actor said he would try to live up to the responsibility bestowed on him.
The university was established here in 1998.
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Talking about yesteryear actress Rekha and Jaya Prada, who were also present at the function, Shah Rukh said he is in awe of the them.
"This is a special night and the last thing I expected was to get a rakhi tied by Rekha (showing the gold bracelet put by Rekha as part of the award). It has to be the saddest moment of my life," he joked.
The "Dilwale" actor, known for his wittiness, has often got into troubles for his remarks on political issues and addressing actor-turned-politician Shatrughan Sinha, who was also present at the event, the actor said that the next time if he ever lands in trouble he will seek help from him.
Shah Rukh also heaped praises at yesteryear actresses Padmini Kohlapuri and Simi Garewal.
"She (Padmini Kohlapuri) is one of the most beautiful actress. At a very early age she set herself apart through her performances and has set a path for yearning actors like us," he said.
SRK thanked Simi Garewal for making him an overnight star due to his appearance on her popular show 'Rendezvous with Simi' along with his wife Gauri.