Balettan is the story of Athaniparampil Balachandran (Mohanlal) who is known for his service in the society. His father (Nedumudi Venu) is a retired postmaster. He lives with his wife Radhika (Devayani) and two children. Circumstances turn him into a debtor and he is arrested in a cheating case, but he manages to solve all those problems with his father's pension money. One day a stranger (Riyaz khan) comes to meet Balachandran. He introduces himself as Bhadran and asks his help for marrying his sister. Balachandran gets angry and this leads to violence in the house. His father asks him to leave the house. On the next day, while travelling in a bus, his father has a heart attack and is admitted to hospital. Later he calls Balachandran and reveals that he has another family. Balachandran, on hearing this shocking fact, stands shock stricken, unable to accept his father's words while his father suffers another heart attack which leads to his death. On his death bed he asks Balachandran to take care of his second family and also requests that his mother should never come to know about this. The rest of the story tells how Balachandran manages to solve all the problems.