Monihara, a ghost story based on a tale by Rabmdranath Tagore, is told by a dishevelled teacher to a silent, dark-clad figure on a river bank. Phanibhushan, a rich jute merchant, brings his beautiful wife, Monimahka ( Mom') to live in a palatial house he inherited.

It is apparent that Phanibhushan is enthralled by his capricious wife, who does not love him, but seems to have only one passion the possession of jewels. A destitute 'relative', Madhusan, appears from Moni's past and blackmails her to secure him a job in her husband s business.

When Phanibhushan's jute business goes up in flames, he leaves for Calcutta to seek a loan. Alone, Moni fears that her husband will demand her jewels to save the business, she sends for Madhusan, and asks him to accompany her to her father's home, where her jewels will be safe.

In her panic and greed, Moni does not realize the threat Madhusan presents to her. When Phanibhushan returns with yet more jewels for his wife, Mom is gone. Soon the truth is revealed, when Mom's ghost starts to haunt the house