Mumbai: The Rs 50-crore film 'Devdas', directed by Sanjay Leela Bhansali, has been selected as the official entry in the best foreign film section for the prestigious Oscar Awards.

The film, starring Shahrukh Khan, Aishwarya Rai, Madhuri Dixit and with lavishly erected sets, has been selected as an official entry, Peter Martis, handling the publicity of the film said on October 27.

The film based on Sarat Chandra Chatterjee's famous novel by the same name, revolves around the theme of "failed love" and takes a closer look on this much-debated human emotion.

Last year, Aamir Khan's 'Lagaan', directed by Ashutosh Gowarikar was selected as the official entry in the section but failed to notch up any award.

Meanwhile, Bharat Shah, producer of 'Devdas' expressed confidence over the film bagging the prestigious award.

"The film has a very good chance of notching up an award since it excels in every section be it photography, performance or even costumes," the incarcerated film producer said.

"The music and the story of the film is of international standard," he said, adding, "The film has also received some rave reviews in the Cannes festival, hence I am confident of it bagging an award."

The film, which earned nearly Rs 80 crore after it was released, is expected to make the cash registers ring further after this announcement, he said.

"I think God is being good to me. After all the legal problems, I feel happy days are back again," Shah added.

PTI