The plot of the film revolves around the Hindu mythological story of Mohini and Bhasmasur. At over five hours, it inaugurated the tradition of Indian cinematic epics and was the first Indian film to feature actresses.

Impoverished singers Uma and her brother Babul are discovered by Nirmal. Uma becomes a star and marries Nirmal, but his insecurity leads him to abandon her and their daughter, Manju. When he finds Uma back on stage, he abducts Manju. After years, the family reunites, and Uma returns to a homemaker role.

Peter (O. P. Ralhan) and Kitty (Helen) love each other, but due to Peter's poverty, they are unable to marry each other. One day, during a secret rendezvous, Peter accidentally overhear a conversation between one Mahesh Jetley and his paramour, where Mahesh tells her that he is soon going to bump off his wife on a certain date. Peter and Kitty decide to foil this man's plans. However, there are 2 problems: 1 - They have not seen Mahesh or his paramour's face. 2 - Even if they had, no one would believe their story. Hence, the lovers decide to do a little investigation on their own. They find three Mahesh Jetleys. On some snooping, they find that each man is married and each of them has a miserable married life. To find their suspect, they devise a plan whereby they will stage an attack on each man's wife. Whoever the culprit is, will freak out and his identity will be revealed.

A mythological sound hit. A cosmic battle between gods and demons reaches stalemate when the sage Shukracharya (Adajania) instantly restores every fallen demon to life. The god Indra (Baburao), on advice from Brahaspati (Vyas), sends Kacha (Bhagwandas) to the sage to learn his magic secret. Shukracharya's daughter, Devayani (Gohar) likes Kacha and the latter is accepted as the sage's disciple. The demon Vrisha Parva (Thatte) tries to kill Kacha but the youth is rescued by Devayani until the demons succeed in dissolving Kacha's body in alcohol and make Shukracharya drink the brew. Shukracharya then teaches Kacha the secret chant so that when he dies and Kacha emerges from his stomach, Kacha may bring him back to life again. Kacha's duties now conflict with a love-triangle, as Devayani marries Yayati who lives Sharmistha (Kamala).