in my custom module, I have used the following code:
$form['event_date'] = array(
'#type' => 'date_popup',
'#title' => 'Set Date & Time :',
'#date_format' => 'd-m-y H:i',
'#default_value' => date('d-m-y H:i'),
'#date_year_range' => '-3:+3',
);
but after submitting it only show time field value. also work fine when only use date('d-m-y').
$form_state['values']['event_date']
both in the validation and submit handlers? The names in your two screenshots don't match up.