Though prohibited by Mr. Sarpotdar, Dhananjay and Shantanu allow their childhood friends, Sudhir and Parshuram, who is also known as Parshya, to secretly live with them since they have come to Pune from Kolhapur in search of jobs.

Sudhir has been miserably disowned by his old, abusive uncle (Suhas Bhalekar) for his negligence towards job and income and participation in the typical village dance programs out of interest.

After several unsuccessful attempts in finding rented accommodation, Dhananjay and Shantanu finally reach the bungalow of a rich, old, kind and cataractic widow, Leelabai Kalbhor, who lives with her shrewd domestic worker, Tanu (Gulab Korgaonkar), and is often harassed for her property by her estranged nephew, Bali.

In an attempt to comply with Leelabai's condition, Dhananjay and Shantanu have no other option, but to force Sudhir and Parshya to dress as women and thus begins the comedy of errors.

Sudhir, now a successful singer and music educator, falls in love with Manisha and courts her in his original form, stating that he is the twin brother of Sudha and that he had disapproved of her marriage with Shantanu and is thus not on talking terms with them both.

However, in the process, the four friends are unfortunately attacked and exposed by Bali and his henchmen in front of Leelabai, Manisha and Sushma, and are handed over to the police brought in by Tanu for their crimes.

However, at the police station, Leelabai surprisingly disowns Bali as her nephew and absolves the four friends of their deceit instead, since she feels from the bottom of her heart that they cheated on her out of their desperate need for a roof over their heads.

The song "Hridayi Vasant Phulatana" was sung by Anuradha Paudwal, Suresh Wadkar, Sudesh Bhosale, Uttara Kelkar, Shailendra Singh, Amit Kumar, Suhasini, Aparna Mayekar and Sachin Pilgaonkar.

[13] All music is composed by Arun PaudwalAshi Hi Banwa Banwi remains a significant work in Marathi cinema, influencing comedic storytelling and cultural discourse.

The film effectively reflects the social dynamics of its time, addressing gender roles and societal expectations through humor, with its portrayal of men dressing as women paving the way for more inclusive narratives in Marathi cinema.

The film has inspired many subsequent works exploring similar themes of identity and family dynamics, solidifying its place as a reference point for filmmakers.