"'Ajantey' is the story of a simple innocent man Ravi who falls in love with Usha not knowing that she is the very girl whose marriage he is trying to finalize with a high society guy Rudraksh. After Ravi's father's death his elder brother usurps everything giving him a couple of rooms in servants' quarter and 1 lakh rupees that his father had given as loan to Mr. Natu. Mr. Natu is a cunning man who keeps delaying Ravi. He finally promises to give him the money if Ravi can get Jhilik married to Rudraksh. Rudraksh is a man full of vices yet Ravi does his best to finalize the wedding. Ravi meets Usha aka Jhilik and falls in love with her. Ravi finds out the truth that Usha is Jhilik the day Rudrasksh goes to marry her. Usha condemns Ravi for his cowardice and that makes him defy everything and marry her. Rudraksh and his family are arrested for claiming dowry."
The plot is based on the novel "Ashleelatar Daye" by Narayan Sanyal (1924-2005), which is an adaptation of "Seven Minutes" by Irving Wallace. A novel is accused of obscenity and a case is filed. Later it is found that a now famous person had written the novel when young and it was based on his own experience. The case is dismissed.
Three orphans Arun, Barun and Kiranmala set out to search for their parents. While doing so, they face many challenges but receive help from the fairy spirits.