Towards the end of colonial India, Shahid Khan loots the British trains, impersonating the legendary Sultana Daku. Now outcast, Shahid becomes a worker at Ramadhir Singh’s colliery, only to spur a revenge battle that passes on to generations. At the turn of the decade, Shahid’s son, the philandering Sardar Khan vows to get his father’s honor back, becoming the most feared man of Wasseypur. In contemporary times, the weed addicted grandson, Faizal Khan, wakes up to this vengeance that his family has inherited.

Staying true to its real life influences, the film explores this revenge saga through the socio-political dynamic in erstwhile Bihar (North India), in the coal and scrap trade mafia of Wasseypur, through the imprudence of a place obsessed with mainstream 'Bollywood' cinema.