MADHUBAALA tells the story of Madhubaala [Kanishka], who wants to make it big in Bollywood. With the help of her friend [Gurpreet Singh], she meets an award winning director Raj Malhotra [Sameer Dharmadhikari], who rapes her 21 times in two years. She's promised the heroine's role in his film and also given false promises of marriage.

But Raj marries someone else altogether [Aditi Gowitrikar] and Madhubaala feels cheated. With the help of a social activist, she lodges a complaint with the police. Everyone including Raj's parents and wife start feeling that Raj is guilty, but the court case takes a surprise turn when a guilt-conscious Madhubaala reveals that Raj had not raped her. She wanted to be famous, hence she lodged a complaint against him.