An impecunious poet, Parwana, runs away from home in company with his pal Jagu to join a theatrical company. On the way they come across a gypsy camp and Jagu succeeds in picking up Koel, a gypsy dancer, as his sweetheart. Parwana and Jagu soon cross swords with Khanna of Khanna Theatres whose main attraction is Bijli, a beautiful and temperamental dancer. Bijli is attracted by Parwana's poetry and physique and we soon see Parwana. Jagu and Koel working in Khanna Theatres. Parwana and Bijli begin to love each other and Khanna doesn't like the look of things being himself in love with Bijli. Things soon reach a show-down stage and Bijli walks out of Khanna Theatres arm-in-arm with Parwana and his stooges. The new team tries to start its own theatre business but the love-stricken Khanna becomes vindictive and with his influence and money hounds them out from place to place till Parwana and Bijli are ruined and heartbroken. In a desperate attempt to save Paiwana's poetic soul, Bijli, sacr