Zubeidaa (Karisma Kapoor) is a headstrong woman, who wants to live life on her own terms. With a passion for the performing arts, Zubeidaa is not allowed to enter filmdom, despite her father being a film producer. She is married off forcefully to her dad's friend's son and begets a child. But, since her in-laws want to live in Karachi, Pakistan, they are forced to separate. Zubeidaa leads a boring existence, until her father's friend, Rose, a film actress, introduces her to Victor, an aristocrat played by Manoj Bajpai. The two fall in love and Zubeidaa becomes second wife to Victor, the first one being the dignified and graceful Mandira Devi (Rekha). Zubeidaa is forced to leave her child behind though who is raised by her mother, (Rege). The child grows up to be a film journalist played by Benegal favourite, Rajit Kapoor, who traces his mother's life. 'Zubeidaa' is essentially, the elusive, mysterious mother's story as traced by son.

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