I love "Sholay." It's an old movie but it has adventure, character, and a love which does not die. Its stars are classic greats of Bollywood: Amitabh Bachchan (his son is married to Aiswarya Rai), Jaya Bhaduri (Amitabh's wife), Dharmendra, and Hema Malini. I've seen it a few times, and its power has never faded for me.
I also liked "The Namesake." I don't know if it was true to the book, but as a film it was mesmerizing.