In one corner, it's superstar director/actor Shah Rukh Khan's Om Shanti Om. In the other, it's newcomers in Sanjay Leela Bhansali's Saawariya, for the first time backed by the might of a big Hollywood studio.

It's a battle of song, dance and celluloid that has kept Bollywood fans waiting for months. The worldwide release of the two films last night comes after months of hype, publicity and hot soundtracks.

The stakes have been raised by Sony Pictures throwing its marketing weight behind Saawariya, shaking up the insular Indian movie world by screening it in 85 theatres in 42 cities around the world, including several multiplexes in the GTA, in a competition – unprecedented here – with Om Shanti Om.

The two will go head-to-head in Bollywood hotspots like the Albion Cinemas in Etobicoke, Woodside Cinemas in Scarborough and AMC theatres across the city.

Here's the match-up for two of Bollywood's biggest films of the year.

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Om Shanti Om

Plot: The movie starts off in the 1970s with aspiring actor Omprakash Makhija (played by Shah Rukh Khan) struggling to break into the film industry. The young Om is also secretly in love with Shantipriya (Deepika Padukone), the top actress of the period. Despite the friendship that grows between the two, Om eventually learns that Shanti is married to her producer, Mukesh Mehra (Arjun Rampal). In a scuffle with Mukesh, Om is killed – and we are led to believe that this may be the end of our favourite hero. But in pure Bollywood fantastical fashion, Om is given a second chance 30 years later, when he is reincarnated as Bollywood's "it-man." And, as fate would have it, he once again meets a woman who reminds him of his first love, Shanti, and sets out to remind her of the sparks that flew between the two in their past life.

Director: Farah Khan, who has seen previous success with her work in Main Hoon Na, has made a name for herself in Hindi Masala cinema, which successfully mixes the glory of Bollywood past and today's pop culture. She has a special affiliation with '70s cinema and makes it clear in both films.

Stars: Where to begin? The King of Bollywood, Shah Rukh Khan, is paired with newcomer Deepika Padukone in this star-studded film. Heart throb Arjun Rampal also takes a small lead role as the hard-to-hate villain. As if that weren't enough, the film also has more than 30 cameos by Bollywood who's who.

Buzz: Farah Khan wanted singer Shakira to make a special appearance in this film. Khan befriended her at the 2006 MTV Music Video awards, after choreographing Shakira's performance.

Shah Rukh Khan spent months preparing for the song "Dard-e-Disco," in which the 39-year-old tantalizes fans young and old by revealing a six-pack throughout the song. He apparently took tips from other built actors in the industry on how to get the washboard stomach and stayed on a strict diet days before shooting to ensure that his abs would look more pronounced.

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Sawaariya

Plot: In a classic love story about the passion of young lovers and the pain of unrequited love, Ranbir Raj (Ranbir Kapoor) plays a young musician in a bohemian city who falls in madly in love with the mysterious Sakina (Sonam Kapoor). He first sees her standing on a bridge, where she appears to be sad, lonely and anticipating someone's return. Meszmerized by her beauty and demeanor, Raj attempts to befriend Sakina and eventually falls madly in love with her. We are led to believe that the couple may be on the way to eternal happiness when Sakina reveals to him that she has been waiting for the return of her lover (Salman Khan), who promised to come back to her after a year's time. Raj is shattered by the confession and struggles to come to terms with the possibility of losing his first love.

Director: Sanjay Leela Bhansali, whose previous work in Devdas, Black and Hum Dil De Chuke Sanam have garnered him respect and notoriety in India and abroad.

Stars: Newcomers Ranbir Kapoor and Sonam Kapoor play the lead roles in Saawariya, but get considerable support from the small roles of Rani Mukherjee and Salman Khan. Ranbir and Sonam come from a long line of actors past and present, Anil Kapoor and Rishi Kapoor.

Buzz: Ranbir Kapoor's female fans are in for a disappointment. The much anticipated "dropping of the towel scene" in the song "Jab se tere naina" will stay in place. The Indian censor board deleted the shot of the towel dropping – unless director Bhansali agreed to add an adult rating to the film.

Predictions: Early numbers for the films have pegged Om Shanti Om as the early winner in box-office sales. But cinemas and production companies weren't the only ones getting in on the action. According to the Times of India, for the first time, bookies were taking bets on two films, with Om Shanti Om a favourite at 75/100.