Wagh, who walked into the record books for staging over 2,000 stage-shows of a comedy All The Best, is known for giving new dimensions to professional Marathi drama. Commenced with staging Garambicha Bapu in Mumbai in November 1967, Wagh and his Chandralekha have come a long way with several theatrical achievements to their credit. A former Indian Express lensman, Wagh presented a show of Gaganbhedi based on Shakespearean plays by Vasant Kanetkar in London.

He made the Peshwa era come alive in Pune by presenting Swami, a celebrated play on the life of Madhavrao Peshawa keeping Shaniwar Wada, once the official residence of the Peshawas, at the background. Later Wagh presented a show of Gulmohor, a play having a background of a life of a naval officer, aboard INS Vikrant. Chandralekha so far has staged over 14,000 shows of various plays including an array of famous Marathi plays and stage performances like Sundara Manamadhye Bharali by the Indian professionals based in US.

President of Akhil Bharatiya Marathi Natya Sammelan Dr Bal Bhalerao will present the award to Wagh in Sangli on November 5, the Theatre Day. Among the earlier recipients of the award are legendary artists Balgandharva, Keshavrao Date, Natasamrat Nanasaheb Phatak, Acharya Atre, Bhalchandra Pendharkar, P L Deshpande, G D Madgulkar, Vidyadhar Gokhale, Prabhakar Panshikar, Vasant Kanetkar, Chhota Gandharva, Sharad Talwalkar, Chittaranjan Kolhatkar, Dr Shreeram Lagoo and Sudha Karmarkar.