Grey-haired, comically parsimonious widower Gokulchand lives a middle-class lifestyle in Agra, India, runs a shop selling essential food items, along with his sons, Manohar and Kishore. While Manohar is employed and married to Devki, and has two children, Roopa and Munna, Kishore is studying Engineering. Gokulchand would like to get rich and enjoy life to it's fullest, in order to this he invests in a lottery - which he does not win - but ends up inheriting his brother, Nihalchand's estate and wealth - over 10 Lakh Rupees. The family move into a palatial mansion, Manohar quits his job, and Gokulchand closes down his shop. Shortly thereafter Gokulchand announces that he wants to go to Kashmir for a holiday. Kishore is in love with Rita and would like to get married to her. The family know that Gokulchand will never approve of this as Rita comes from a poor family and lives with her widowed aunt, so they decide to get them engaged in Gokulchand's absence. Devki borrows an expensive diamond necklace from her friend, Savitri, and, in turn, lends it to Rita. For a very long time, the family do not hear from Gokulchand, and when he returns home - they get a shock - for he has dyed his hair black, and has an Caucasian girlfriend, Dolly Little, along with her to-be son-in-law, Jerry; a son, William and daughter, Kitty. Chaos and acrimony reign when Gokulchand makes it clear that he is going to get married to Dolly, as well as the subsequent theft of twenty five Thousand Rupees, which Gokulchand suspects was both stolen by Kishore. Things get even more complicated when the family are asked to leave, and while re-locating to a shanty hut, they find the necklace missing. The questions remain what will be the outcome of Gokulchand's marriage; that of his estranged family; and how they will repay the cost of the missing necklace?