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The Bengali novella of the same name by Sarat Chandra Chattopadhyay was translated into Hindi and released as the 2005 musical love drama film Parineeta. It was based on a screenplay written by the film's producer, Vidhu Vinod Chopra, and was directed by a first-timer, Pradeep Sarkar. With Raima Sen, Sabyasachi Chakrabarty, and Dia Mirza playing supporting roles, the movie stars Saif Ali Khan, Sanjay Dutt, Dia Mirza, Tina Dutta, Rekha, Supriya Shukla and Vidya Balan (making her Bollywood debut).
The narrative occurs in Kolkata in 1962. During the credits, scenes from the city of Calcutta's past are shown together with Amitabh Bachchan's narration of the time period.
Images of his childhood friend Lalita addressing him by name flood through Shekhar's head the night before his scheduled marriage to Gayatri Tantiya, the daughter of one of his father's business friends.
As Shekhar meets Vasundhara, a widow from his neighbourhood, who is grateful to her son-in-law Girish (Sanjay Dutt) for sustaining their family following the death of her husband, Gurcharan, musical celebrations begin below.
Lalita, who is present, playfully asks Shekhar why he doesn't seem to care about her. Shekhar corrects her for speaking in such a manner while being married.
Shekhar returns home in a rage and starts playing an old favourite on his piano. In the flashback, little Lalita and Koel are there as Shekhar plays Rabindranath Tagore's song on his piano. Lalita lives with Gurcharan's family because her parents passed away in a vehicle accident. While Charu is her neighbour, Koel is her cousin. Shekhar performs a song filled with pain and loss as he imagines this event. They quickly mature and develop close friendships.
Instead of joining his cunning father's business, the disobedient and musically gifted Shekhar spends his days performing the music of Rabindranath Tagore or Elvis Presley and writing his own songs with Lalita. This disobedience includes Shekhar's refusal to meet Gayatri Tantiya, the gorgeous but cunning daughter of a powerful industrialist, whom his father wants him to marry. A steel magnate from London named Girish enters Charu's home in a dramatic fashion in the meantime. While Koel is captivated with Girish, Lalita appears to be with Girish. Shekhar can be seen to be envious of Lalita and Girish's tight relationship.
Lalita, a stunned employee at the Roy's office, recalls a hotel idea from Gurcharan's family haveli one day (palatial house). Gurcharan had previously taken out a loan from Naveen Roy after mortgaging his haveli. She is aware that Naveen Roy would reclaim the property if the loan is not paid back within a few months. Shekhar's request for financial assistance enters her mind right away. Unexpected events prohibit this, and Girish recognises this and solves their issue by adding Gurcharan as a business partner. Gurcharan pays off the debt, and Shekhar is left wondering why Lalita approached Girish rather than him when she needed money.
Unknown to anybody else, Shekhar and Lalita consummate their marriage on a lucky night by exchanging garlands.
While Shekhar is travelling for work to Darjeeling, Naveen Roy angrily yells at Lalita over the failure of his hotel project, making her feel ashamed and degraded. The construction of a wall separating Roy's home from Gurcharan's serves as a symbol of their breakup. Gurcharan had a heart attack because he is unable to process this. Shekhar is informed by Roy about his mother's poor condition upon his return, and Gurcharan cruelly adds a comment about Lalita and Girish's union. When Shekhar learns of the marriage, he becomes furious and scowls at Lalita, treating her like his father.
Girish helps Gurcharan's family in the meantime and transports them to London for the heart surgery. Following misunderstandings, Shekhar decides to marry Gayatri after believing Girish and Lalita are already wed when the family returns from London. When Girish gives Shekhar the ownership documents for Gurcharan's haveli, the movie jumps back to the evening of Shekhar's wedding. He surprises Shekhar by revealing that Lalita turned down his marriage proposal, which is why he married Koel. Finally, Shekhar confronts his father and demolishes the barrier between the two households metaphorically. To his mother's great joy, he then welcomes Lalita into his home as his bride.