Shanku, a sober but stubborn orphan, lives with her maternal uncle, a bachelor, in a slum. Her sole dream is to marry a millionaire. According to her, a girl gets only one chance to change her name in life, and that is after her marriage. Shaku’s uncle Damodar works as a cook for Mr.Laxmikant Kuber, a renowned industrialist, whose son Naren has just returned from abroad after completing his studies. At a party thrown by Mr. Kuber for his son’s homecoming, Naren tells his friends his views on marriage. His only condition is that he will marry a young widow, which Shaku overhears. With the help of Tatya Mazumdar Shaku poses as a young widow Saudamini and enters the Kuber residence. With the help of theatrical antics, she soon wins over the hearts of Mrs. Kuber and Naren who ask her to live in the house. As days go by, Naren falls in love with her and Mr.Kuber asks Saudamini for her late husband’s photo. Again with the help of Tatya Mazumdar, Shaku shows him a photo of a military Captain, and tells his name as Capt. Bajirao Rangade. Lukutuke a clerk, who works for Deshmukh is in love with Hema, Mr. Deshmukh’s daughter. Mr. Kuber asks for Hema’s hand in marriage for Naren. One day when Kuber visits Deshmukh at his office, he bumps into Luktuke, who he recognizes the Capt. in the photo, Bajirao Rangade. A plan begins to take shape in Kuber’s mind.