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The model-turned-actress wore a pink and green sari to the glitzy event, while her boyfriend, who hails from Mumbai, complemented her in a Nehru suit.
'Liz is known for flashing the flesh, but by wearing the sari she is sending a message that she is extremely committed to Arun,' an onlooker was quoted by the Mirror as saying.
'Perhaps she's just getting in some practice for her wedding,' he added.
Liz, who will wear a red Versace sari when she ties the knot with Nayar later this year, reportedly told friends: 'I love all the pomp and ceremony of Indian weddings.'
The glamorous couple were among stars who turned out for the annual Red Hot Pink Party, the yearly bash staged in New York's Waldorf Astoria hotel to raise money for the Breast Cancer Research Foundation.
Sean Penn's troubled marriage with Madonna
Sean Penn insists that he wouldn't have stayed sane if he had remained married to Madonna.
'Had we stayed together, we'd have driven each other mad. But I was just as badly behaved as her,' Femalefirst quoted Penn as saying.
The Oscar winning actor got married to Madonna in 1985 and the couple was constantly under the media glare. 'I never liked being under the spotlight. Our marriage guaranteed that we lived in the public gaze, which meant that we had no real marriage at all. We didn't even have time to have a proper conversation. She was in the process of becoming the biggest star in the world. I just wanted to make my films and hide," he added.
Penn, however, credits his second wife, Robin Wright, for helping him patch up with Madonna and claims that they get along fine now.
Brosnan says losing Bond was 'torture'
Pierce Brosnan has reportedly revealed that losing the role of the suave British double agent James Bond was 'torture' for him.
'Losing Bond hurt me like mad. It was a shock, painful and unexpected. I was sure that I would make a fifth film. I knew it would be my last and my life revolved around this certainty. Then one bad day, I had a telephone call. Dropped,' the Die Another Day actor was quoted by the Sun as saying.
'Telling my wife Keely and friends was torture,' he added.
Brosnan, who stared in four of the Bond movies was dropped from the fifth movie after reportedly demanding a massive pay hike.
Bruce Willis dumps girlfriend
Bruce Willis has reportedly ended his torrid love affair with actress Nadia Bjorlin, leaving her broken-hearted.
The Die Hard star fell for the actress after meeting her at a Los Angeles nightspot last year, but has recently dumped her, reports Contactmusic.
'Nadia is shattered. She wanted to tell the world about their romance and was saying it was love at first sight for her,' a friend of the actress told the US tabloid The Globe.
'She's praying Bruce will have second thoughts and give her another chance,' she added.
Woody Allen is Scarlett's fan!
Hollywood filmmaker Woody Allen is confident about the success of his forthcoming film Match Point because he has full faith in the acting capabilities of Scarlett Johansson.Johansson was Allen's second choice after his original female lead Kate Winslet dropped out to spend more time with her two children.
'I'm very bullish about it and I'm usually not. I usually want to crawl into the ground after I make a film, almost invariably, but I'm very bullish about it because Scarlett Johansson is such a strong actress,' Allen was quoted by Contactmusic as saying.
Match Point is set to have its world premiere at the Cannes Film Festival in France next month.
Photographs: Getty Images
