The festival of lights has finally kicked off. And, leave it to our Bollywood biggies to make the most out of it, with Diwali parties being hosted by the crème de la crème of the industry at every nook and corner.  We all know that these parties never fail to disappoint us, especially when it comes to our favorite B-town stars putting their fashion foot forward.

Yes, these bashes are known for its most daring and out-there risqué fashion statements. And our favorite A-listers clearly leave no-stone-unturned to keep our style mavens all gung-ho and excited, throughout this festive season. From giving royal a whole new meaning (Ahem, King Khan!) to Shweta Nanda raising the temperature in a sexy white number; our B-townies were clearly not in the mood to go incognito. While our tinsel-townies lit the red carpet in true Bollywood style; we at Peeping Moon.com have decided to bring you our haute list of celebs who slayed and who truly dismayed! P.S: Time to take notes and amp up your Diwali game, as well.

BEST DRESSED

  Who – Shilpa Shetty Wore – Falguni and Shane Peacock

Who better to take a sartorial cue from than the Queen of Thumkas, herself? Mrs. Kundra looks nothing less than a drop-dead-diva in this Falguni and Shane Peacock ethereal outfit! Perfect example of classic meets contemporary, with a dash of traditional. Who – Sara Ali Khan Wore- Abu Jani and Sandeep Khosla

Is it just us or do you all agree that this new-kid-on-the-block is a fashion icon in the making? One can only wonder, how could she possibly out-do herself on her next red-carpet appearance? Who – Karan Johar Wore – Rohit Bal

Okay! We have to say this, loud and clear! KJo is on fire, literally! Isn’t it refreshing to see the biggest name in B-town wear something completely offbeat? Treat to our sore eyes!

Who – Shweta Nanda Wore – AJSK

This mother of two stepped out in an Abu Jani and Sandeep Khosla little number, raising the heat levels in Mumbai, a notch or two higher. Time to bid adieu to the classic LBD and make way for all-things-white! Who – Katrina Kaif Wore – Anamika Khanna

No points for guessing, as to which celebrity has been painting the town red! Katrina Kaif looked nothing less than a Queen while slaying the red-carpet and how in her red hot traditional number.

WORSE DRESSED

Who – Masaba Gupta Wore – Masaba Gupta

Irony of life or sheer bad luck? Yes, even tinsel-towns favorite style beacon can go a tad bit wrong! Who – Athiya Shetty Wore – Simar Dugal

We’re pretty sure, the fashion police are burning their midnight oil, wondering what exactly Athiya and her stylist were thinking! Who – Alvira Agnihotri Wore – Unknown

Alvira clearly missed the mark by sporting this not so appealing ensemble. (Umm, about time she gets a stylist on board). Who – Shah Rukh Khan Wore – Unknown

He is undeniably the Badshah of Bollywood. And, the whole world (at least, we at Peeping Moon) bow down to this man! But don’t you think that the King of B-town is playing a bit too safe? Who – Daisy Shah Wore – Seema Khan

Daisy Shah is known for her lackluster on the red-carpet and clearly, this Diwali appearance was no different.