Akkineni Lakshmi Vara Prasada Rao ( 17 January 1908 – 22 June 1994 ) , known popularly as '' L. V. Prasad '' , was an Indian film producer , actor , director , cinematographer and businessman . He was one of the pioneers of Indian cinema and is the recipient of the Dadasaheb Phalke Award , the highest Award for films in India . In 1980 , he was awarded the Raghupathi Venkaiah Award , for his contribution to Telugu cinema . He founded '' Prasads Group '' in 1956 , which include the Prasad Art Pictures , Prasad Studios , Prasads IMAX and L V Prasad Eye Institute . L. V. Prasad was the chairman of the 27th National Film Awards Selection Committee held at New Delhi in 1980
27th National Film Awards
27th National Film Awards
L. V. Prasad