Inlaks Foundation has had a long tradition of supporting young and talented individuals in the area of Fine Arts. It is in April 2007 that the Foundation initiated another series of awards- Inlaks Awards for Film and Television Studies - in India. The awards have been set up at the Film and Television Institute at Pune in the two major disciplines of Acting and Script-writing.

The awardees were selected through a two-tier selection process. Applications for the awards were invited from the students. The applications were short-listed by a committee of teachers from Film and Television Institute of India. The short-listed candidates were invited for an interview. The Director of the Institute, four staff members of the Institute and a representative of Inlaks Foundation constituted the committee.

The committee announced two awards of Rs. 50,000/- each for the following students.

The number of awards and the amount awarded is flexible and is likely to undergo change as the scheme of Inlaks Awards for Film and Television Studies Foundation matures and becomes more comprehensive. The Foundation invites suggestions from interested individuals to make the Awards more meaningful.