'Nishchaiy' is the story of two brothers, Ravi and Rohan Yadav separated due to unforeseen circumstances created by Ravi's employer Manohar Singh who suspects Ravi of having an affair with his wife Renuka. Ravi is sent to prison for a crime which he never committed and Rohan is adopted by Renuka's friend Yashoda. Years later, Ravi, a branded criminal is released from prison and Rohan, a successful lawyer now known as Vasu Gujral, clash with each other unaware of the fact that they are real brothers. This clash is engineered by none other than Manohar Singh, who is responsible for their separation years ago.