Samraat is an action thriller drama. The movie follows the story of two friends, Ram (Dharmendra) and Raju (Jeetendra) who are talented divers. The two get hired by the police force to investigate the sunken ship that was used for smuggling gold bars abroad. The two excitedly take the job and go on to find more about the sunken ship, its owners and the smuggling racket. However, the job starts to create a rift in their friendships. It is to be found, whether they succeed in finding out more about the smuggling racket or this mission finally ends their friendship?