"Kismetwala" is essentially a story of father and son's conflict. Raja was a happy go lucky gypsy boy, a first class horse trainer, working for Thakur Baldev Singh. Raja had great regards and respect for Thakur Sahib who was not only a great social worker but also spending lot of money to maintain a social organisation Nari Kala Kendra meant for the welfare of destitute women.
In fact Thakur Sahib had dual personality, one of being a kind hearted social worker and other of being an exploiter of the society.
Asha a singing girl actually once was supposed to have married Thakur Sahib who after exploiting her chastity and youth threw her out mercilessly. She took a vow that she will not tolerate the injustice. She gave birth to a baby boy in a gypsy camp but Sardar of gypsy camp told her that she gave birth to a still born child. And under various circumstances she was forced to become a singing girl. Suddenly she came across Thakur Sahib on the occasion of marriage of Thakur's daughter where she was unknowingly invited as a dancer.
In the meanwhile, Raja happy go lucky person came across Anita who was adopted daughter of Asha and fell in love with her. Sardar felt that brother and sister cannot be allowed to have romantic involvement. Actually the child was not still-born but Sardar who had no issue adopted the boy for himself.
Raja came to know the mistry of his real mother and stood up against same Thakur Sahib whom he had regarded as a demigod. He challenged Thakur Sahib to accept Asha as legal Thakurian or otherwise he will revolt against him and ruin the whole Thakur's estate and demolish all his property goodwill and teach him a lesson. Thakur Sahib accepted the challenge and what happened on the class of two great giants - see on the silver screen.
[From the official press booklet]