Set in the early 20th C. Calcutta Theatres industry. Kamala (Kanan Devi) is the star of the Ruby Theatre owned by her guardian Maheshbabu. Narendra (Sanyal) is the equally popular star in the rival Bina Theatre, which he abandons to join the Ruby repertoire when he falls in love with Kamala. In a lyrical sequence in the countryside, they marry in a poor peasant setting. Narendra then shows his true colours and forbids Kamala to continue her acting career. She returns to the stage anyway while Narendra stays among the peasants. He later returns to the Bina Theatre and its success is intercut with the bankruptcy of the Ruby Theatre.

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