While Abhishek was busy giving out media bytes on the red carpet to the electronic media, Jaya walked in whereas Amitabh was talking to a guest.
Jaya came forward and saw Rekha but instead of walking away or avoiding her the duo exchanged a warm smile, said a source.
Rekha got up and greeted Jaya who also clasped the former's hand amicably.
Both the screen icons looked resplendent in gorgeous pink saris and sparkling jewels at the event held at the MMRDA grounds here.
At one time Big B and Rekha shared a roaring chemistry on and off the screen. Their last Bollywood project together was Yash Chopra's 1981 entertainer Silsila which also starred Jaya.
But since then, the duo who acted in films like Namak Haraam, Do Anjaane, Muqaddar Ka Sikandar, Mr. Natwarlal, Suhaag and Khoon Pasina, have not worked together.
At the 20th edition of the Screen Awards, Amitabh was recognised for his over four decades of contribution to the world of Hindi cinema.
Filmmaker Vidhu Vinod Chopra and actor-politician Shatrughan Sinha handed over the special award to the 71-year-old.