The Movie Rakhwala stars Anil Kapoor and Farah as lead actors. Vikram (Anil Kapoor) will be working for the Ranjeet ( Suresh Oberoi ) who is the head of Builders association. Ranjeet’s biggest enemy is Janganiya (Prem chopra) who happens to be Vikram’s father as well. Vikram had a bad childhood as he had to stay away from his family. His father was cruel by nature and makes his wife Janaki ( Tanuja ) go to jail .The police inspector Dharam Raj ( Shakti Kapoor ) over there takes advantage and rapes Janaki.
Vikram lives in a Basti where the Ramtakki ( Farah ) will also be. She is loving Vikram but he does not pay much attention towards her. One day, a girl named Mini approaches Vikram and asks for his help to find her father. Vikram later realizes that the girl’s father is Ranjeet. Ranjeet happens to see Mini’s mother Kiran ( Shabana Azmi ) in mental asylum and tells Vikram his complete story on how she insulted him through her articles in news paper. He tells Vikram to kill them both but Vikram takes the responsibility to save the girl and reunite her with Ranjeet. In the mean while, Kiran regains her consciousness and things end on a good note. At last, the story ends on how he deals with his father.