Earlier, Pandey struck 64 off 53 balls with the help of six fours and two sixes. KKR pummelled 73 runs in the last six overs, with 14 coming in the final one, courtesy Suryakumar Yadav. READ MORE ON IPL 7 (JPN/Agencies)
Kallis, who got a reprieve on 34, found the fence five times and cleared it thrice.
The start was far from ideal for Knight Riders as they lost skipper Gautam Gambhir for nought in the second over to Malinga. The experienced left-hander had no answer to the Sri Lankan slinger's yorker that uprooted the stumps.
Pandey and Kallis added valuable runs for the second wicket, ensuring there was no further jolt for KKR till the 17th over.
Pandey, during his knock, played some effective shots to keep the Mumbai attack at bay, even as Kallis stood steady at the other end preferring to score at around run-a-ball.
While Kallis was looking to steady the ship after the captain's early dismissal, Pandey launched into IPL debutant Corey Anderson, hitting the New Zealand all-rounder for a six and a four. The tournament's first six went straight over the bowler's head as Pandey punished the over-pitched delivery with ease.
Spin was introduced after KKR managed just 31 runs in the first powerplay. Mumbai, though, failed to make a breakthrough as KKR reached 63 for one at the halfway stage.
Kallis, meanwhile, upped the tempo by picking Pragyan Ojha for special treatment, smashing 20 runs with the help of two sixes and a four, which also saw the team cross the 100-run mark.
The South African then lofted Kieron Pollard on the on-side for another boundary as the Mumbai outfit was getting frustrated.
The drop catch by Malinga off Pollard suddenly assumed significance as Kallis, then batting on 34, opened up after that.
A flurry of fours and sixes followed and Kolkata were sitting pretty when they entered the final overs. Malinga, who was brought back for his second spell, knocked over Pandey's off-stump to give his side a much-needed breakthrough.
Mumbai Indians: Rohit Sharma (Capt.), Michael Hussey, Aditya Tare (wk), Ambati Rayudu, Chidhambaram Gautam, Kieron Pollard, Corey Anderson, Harbhajan Singh, Lasith Malinga, Zaheer Khan, Pragyan Ojha.
Kolkata Knight Riders: Gautam Gambhir (Capt.), Jacques Kallis, Manish Pandey, Robin Uthappa (wk), Shakib Al Hasan, Yusuf Pathan, Suryakumar Yadav, Piyush Chawla, Vinay Kumar, Sunil Narine, Morne Morkel.
Earlier, Pandey struck 64 off 53 balls with the help of six fours and two sixes. KKR pummelled 73 runs in the last six overs, with 14 coming in the final one, courtesy Suryakumar Yadav.
READ MORE ON IPL 7