Shiva movie story is based on man of guts. The main story revolves around Baddies Panduraanga Shetty (Rangayana Raghu), Mastan (Guru Dutt) and Adikeshava (Ravi Shankar) tries to buy Rajendra (Ravi Kale), a jockey who believes in sincerity, and offers him a huge prize if he loses the race.
But he rejects the bribe and pays a huge price for it, as Rajendra loses the game. Journalist David (Suchindra Prasad), who is a close friend of Rajendra, reveals why his horse did not win and wants to send the trio to jail by publishing it in his newspaper. Unfortunately, he and his family are killed by them and his daughter become an orphan.