The story of the film Saheb Biwi Aur Gangster is based in a small town in the Northern part of India. This film is a story packed with conspiracy, disloyalty and aspiration between an attractive Begum, her Nawab husband and an aspiring boy who is young.
 
The Begum and her Nawab, live in their inherited royal home where they keep trying to sustain the status and dignity of their ancestors who had left behind. But the circumstances kept on changing due to the changing time, some severe monetary conditions and the long gone practice of a noble having a mistress, the Nawab attempts really hard to sustain his status and monetary status.
 
His competitor political party, who belonged to Gainda Singh, is on a steady mission to get rid of the Nawab and his allies, so that he could get the power to rule those areas. The administration has been with this noble family for many years. Ultimately, he is left with just one Kanahiya, who is the most trustworthy and dangerous servant of the Saheb.
 
Due to the interest of Nawab in his gorgeous mistress, Begum undergoes seriously from the lack of his interest and attempts to put every bit of her endeavour into trying him to come back to her or even use a second of his time with her. The Nawab begins taking assignments to kill on contract basis so that he could be able to cope up with his lifestyle and would be able to obtain a tight hold over his political conditions whilst campaigning for the up-coming elections, which had become a hard encounter considering the loss of his allies and failing financial conditions.
 
The excitement in the story walks in when the same adversary gang place Babloo, to obtain information and plot the murder of the Nawab, as the provisional driver for Begum as her age-old driver faces with an accident and this accident was also planned by the same group.
 
Begum who suffers from the lack of the attention of her husband gets slightly hysterical due to the same reason and gets involved into a type of physical relationship with this young driver who appeared to be spending more of his time and attention to her. They get into sexual relationship also.
 
In this procedure, Babblo starts loving Begum with deep within his heart and lands up acknowledging of his connections and purposes in front of the Nawab. This is just the point where the whole drama between the Sahib, his Biwi and Babloo the gangster starts.
 
The film is filled with twists and turns as Biwi uses Babblo to obtain the mistress murdered to get back the missing attention from her husband. Babloo administers to fulfil her requirements but in turn he becomes ambitious and desires the begum for him and the supremacy which Saheb now holds after he finishes Gainda Singh.