Maya and Arun see each other on Maya's last day in her flat and they have sex as Maya is unaware of Arun's marriage with Rajasree. A few days later Maya happens to see Arun and Rajasree together in a mall. This leaves Maya mentally shocked and her illness further aggravates. Injecting morphine, a pain reliever, is the only option. Upon Maya's request to relieve her pain, Arun injects an excess dose of morphine. Arun, to pay off his dues, steals Maya's diamond necklace and replaces it with a fake one, with the intention of returning it when his loan is passed. Meanwhile, Maya admits that she is sorry to have entered into Arun's life and falls asleep. Rajasree, on finding the diamond necklace, thinks it is her birthday gift from her husband Arun.
When Venu learns about Arun's debt, he speaks to the bank manager, pays the first installment, and arranges for Arun to pay back the bank in installments. Maya develops complications from the overdose and narrowly escapes death. Lakshmi, who is on duty at that time and had injected an initial dose of the pain reliever, is dismissed from duty. Maya leaves the hospital, leaving a gift cover with Savithri to be given to Rajasree by her husband, Arun. When Arun opens the cover the gift eventually turns out to be the fake diamond necklace that he replaced.
Arun drops Lakshmi at the airport, and puts the original diamond necklace into her bag, so she can fulfill the dream that she and her mother had seen, the hospital. Although she lost her hair as a result of the treatments, Maya is now shown living a lonely but happy life in a remote Himalayan valley remembering Arun's words to live life without worrying about past and future.
The story ends with Arun realizing that Rajasree loved him more than the diamond necklace (the fake one, a fact that Rajasree was unaware of) that he had given her, when she throws it into the ocean to prove her love to him, and the movie ends with him hugging her.
The movie received generally positive reviews. The film was noted for its performances, visuals, story and its realistic portrayal. Rediff rated the film 3.5 out of 5 stars and concluded that \"One can just end by saying that Lal Jose puts his might behind the change sweeping Malayalam Cinema of late and has come out with a Diamond Necklace that is not to be missed.\" Times of India gave the film 3 out of 5 stars and commented \"it is a beautifully shot movie put together with some stirring moments and hearty one-liners by scriptwriter Dr. Iqbal Kuttippuram.\" 1e1e36bf2d