The basis of this story is that everyone in one way or another is a thief. Rich or poor, a king or a beggar, everybody is engaged in depriving the other of something. Whether it be a girl of sweet sixteen stealing someone's heart, or a rich man stealing a poor man's labour, we steal in one form or the other.
The story of "CHOR BAZAR" is linked with a state named SHERKAND a desert kingdom, which holds in its fold a colourful chapter of romance, chivalry, and adventure. Mustafa, the uncle of little Prince Murad, on being appointed as his regent began to dream of becoming a King. To realize his ambition he sought the help of Yusuf, the master thief of SHERKAND, in having the little Prince killed. Instead, Yusuf moved by pity spared the innocent Prince of the terrible fate and escaped with him to the bordering State. Yusuf who had vowed to help the Prince get back his throne, to achieve this end, returned to SHERKAND after a lapse of 18 long years along with the Prince, who now no longer passed as Prince Murad but Shimoo, the youthful son of Yusuf. Yusuf planned to break open the State Treasury and with the money thus obtained instal the Prince on the throne. One night when Shimoo was about to enter the treasury and he caught a glimpse of Princess Gulnaar and fell in love with her. Princess Gulnaar was already engaged to Prince Haider of Marakash and in token of their engagement had been presented with a valuable pearl. That very night, as chance would have it, the historical pearl got stolen from the palace and the indignant Haider announced that if the fateful pearl was not found within the space of one month he would reduce SHERKAND to a heap of ashes.
Mustafa who believed in the precept "Set a thief to catch a thief" once again turned to Yusuf for the recovery of the pearl. By and ingenious scheme, Yusuf with the help of Shimoo succeeded in recovering the lost pearl. But, who was the thief? She was none other than Chickoo, the daughter of the great thief of Marakash. On first sight, Chickoo fell in love with Shimoo. Yusuf after recovering the pearl handed it over to Wazir Abukhan, but deft handed Chickoo who could not stand her labour going to waste managed to pilfer the same again from the Wazir before his departure for the royal court. Shimoo unaware of it went to claim the reward for finding the pearl, but on being told of its theft again suspected the Wazir of double crossing. Shimoo whilst returning from the palace, met the princess who apart from offering the reward gave him her heart as well. To save SHERKAND from Haider, Shimoo promised to recover the pearl for her.
Chickoo who had by now come to know of the secret love between Shimoo and the Princess got hurt and planned to leave SHERKAND for good. Shimoo and Yusuf, however, persuaded Chickoo to help them enter the treasury and with her help succeeded in their mission. With time running out the King had by now announced the hand of Princess Gulnaar in marriage to any one finding the pearl. Shimoo who suspected Wazir Abukhan was preparing for a fight with him to get the pearl and thereby win the hand of the Princess when Chickoo asked him if he really believed the Princess would marry a commoner like him. Chickoo could not have been more surprised when told that Shimoo was himself a Prince. On hearing this Chickoo returned the pearl to Shimoo.
What happened after that you will have to see on the Silver Screen.