Prakash Shaw-directed ''It'' takes a look at the tragic life of a girl named Muskan Bano (Manisha).
Muskan comes from a poor family in Hyderabad. Her father marries her off to a rich middle-aged sheikh of Dubai at the tender age of 15. After using Muskan for his bodily pleasure for seven days, the sheikh divorces her, leaving her in lurch.
Muskan''s father lodges a complaint against the sheikh with police, but the influential Arab greases the palms of the Judge and the police and walks out scot-free. Feeling guilty for ruining Muskan''s life, her distressed father commits suicide, leaving her to fend for herself.
With no one in this life to take care of her and burdened with the responsibility of self sustenance, Muskan takes up prostitution in the brothel of Mehndi Bazar, a famous red-light area of Hyderabad.
Meanwhile, Muskan takes the Sheikh to court for raping her. She finances her case by selling her body. But when the jury reaches the final verdict after eight years, the sheikh is acquitted and Muskan loses the case.
Muskan then comes to Mumbai where she meets a pimp Juicy who introduces her to two high-class call girls Lisa (Suman Ranganathan) and Isha (Shweta Menon). The two groom Muskan for flesh-trade business in high society. And thus Muskan is rechristened as Malika in Mumbai It.
In Mumbai Muskan meets Babu Pandey (Aryan Vaid), a hard-core criminal, who falls for her beauty. Muskan, however, doesn''t reciprocate his feelings.
Twist in the story comes when Malika, along with Lisa and Juicy, go for a dance show in Dubai, where she bumps into her former husband sheikh and decides to take revenge. On the other hand, the Sheikh hires a hitman to kill Malika.
Muskan has lost two times to the sheikh in her life. Will she succeed in taking the revenge this time?