Kumar, who bagged a silver medal, and bronze medalist Dutt were presented with a cash prize of Rs 10 lakh and Rs five lakhs respectively by Velammal Educational Group in Chennai.
Kumar, who became the first Indian to win back-to-back individual medals in the Olympics [ Images ], in his interaction with the students said he had never allowed success or failure to affect him.
Dutt said that by winning a medal at the London Olympics, his childhood dream had been fulfilled.
Coach Yashvir Singh, who was awarded Rs five lakh cash prize, said India [ Images ] has got great scope in wrestling.
"I am satisfied with what my wards have achieved. If they maintain their focus, there is no reason why they cannot better their performance at 2016 Rio de Janeiro [ Images ] Olympics", he said.