As soon as the goons enter the shop and threaten the informant to give the microdot, the hero Vicky enters the store to get his guitar. The informant slips the microdot into Vicky's guitar and Vicky leaves. The goons realise this and follow Vicky. Vicky is a singer and guitar player at a local nightclub. He along with Nancy entertain the crowds. After the night show, Vicky and Nancy head to Vicky's room. Here they encounter Mr. Gonz who is badly injured. Meanwhile, the goons follow Vicky to his room and kill Mr. Gonz. They try to take the guitar (his father's gift) containing the microdot from him, but Vicky escapes with the guitar. He is on the run and tries to convince the police that Mr. Gonz has been killed, but is unable to do so. He again encounters the goons. This time he escapes from them and boards a train. Here he meets Roma who has also run away (from her home) due to the strict rules enforced by her rich and wealthy father.
During the train journey, Vicky and Roma become friendly. The goons follow Vicky and try to attack them on the train. Vicky and Roma manage to escape from the train. They are in the middle of nowhere and start heading towards the nearest town. On their way to the town, they encounter Jani Bhai, an inventor, who gives them a ride to the town, with his customised car. Jani and Vicky become best of friends and Jani gets Vicky a job as a guitarist/singer in the hotel by portraying him as a famous singer. Incidentally, Roma is staying in the same hotel. Vicky and Roma fall in love. Scorpion learns that Vicky is staying in the hotel through his henchmen, Julie, present as an employee in the hotel. Meanwhile, Nancy comes to this hotel and creates a misunderstanding between Vicky and Roma. Roma dumps Vicky and Nancy takes Vicky to her room. Nancy plots to kill Vicky but in the process, gets herself killed accidentally. While dying, she tells Vicky that Scorpion had sent her and she was compelled to kill because her parents were held hostage. The rest of the film deals with who Scorpion is and whether Vicky and Roma get together.
Controversies
The song "Kajra Mohabbat Wala" became very popular due to the way it was filmed, choreographed and for its memorable tune. Biswajeet did the drag act of putting a female disguise for this song. Film historian and critic, Firoze Rangoonwalla explains the controversy that took place after the film was released:
In fact, Biswajeet's drag act in Kismat worked a little too well. Though Biswajeet was a hero for a long time, he was never portrayed as a very masculine hero. So when he put on a female disguise and sang "Kajra Mohabbat Wala", the audience received it with wolf whistles, knowing very well that he was a man! I remember that one of the film magazines made a very caustic remark that if Biswajeet were to stick to this kind of roles, he would be much more successful. There was controversy and Biswajeet filed a suit against the magazine, though the suit fizzled out.
— Firoze Rangoonwalla, Film historian and critic, as said to Bollywood Hungama