The first clash between a Shahrukh Khan and Akshay Kumar starrer happened in 1993 as Maya Memsaab clashed with Waqt Hamara Hai (which was actually a multistarrer as Sunil Shetty was a mini star at that time also).
At the time of release neither Akshay Kumar or Shahrukh Khan were stars as Mohra (which made Akshay Kumar a star) was a year away and Baazigar (which made a Shahrukh Khan a star was a few months away). Both were mini stars at the time of this clash as Akshay Kumar had two successful films with Saugandh (interiors) and Khiladi (Mumbai) while Shahrukh Khan had made an entry with Deewana which was a huge HIT but he was not the main lead.
Waqt Hamara Hai was always going to win here as it can be called a film while Maya Memsaab was an NFDC type film which was never cinema though they were not as bad as the European cinema which we have see quite often over the last decade or so as the budgets were low while this European cinema has been made on huge costs though the audience is only as much as the NFDC cinema.
There was a third angle to the clash with a film called Badi Bahen which starred Raj Babbar and Meenakshi Shesadri and this film managed to score over Maya Memsaab also. The final results were that Waqt Hamara Hai and Badi Bahen were AVERAGE fares while Maya Memsaab FLOPPED. The initial figures of the film were as follows and it the clash was on 2nd July 1993
Badi Bahen - 6,50,000 (35 screens)
Maya Memsaab - 4,00,000 (25 screens)
Waqt Hamara Hai - 25,00,000 (110 screens)
Badi Bahen - 19,00,000
Maya Memsaab - 13,50,000
Waqt Hamara Hai - 66,00,000
Badi Bahen - 32,00,000
Maya Memsaab - 23,00,000
Waqt Hamara Hai - 1,07,00,000