Chakravalam is dubbed version of Tamil movie Julie Ganapathi. Julie (Saritha) who is a dangerous combination of astuteness and madness. She is a caring mother one moment and the Devil incarnate the next. She saves Thenkasi Balakumaran (Jayaram) who is a notable writer of television serials, who meets with a near fatal accident, from the clutches of death. She nurses him in her own home and also falls in love with him.
He is virtually under house arrest and while the outside world is searching for him all over the place, Julie keeps him pinned down with threat, torture, benevolence and compassion all at once. Knowing fully well that her uncouth figure and appearance will never help her ensnare the much-married Balakumaran, she decides the fate of both of them.