Anand returns to Ugra Narain's palace, and seeks permission to paint a portrait of him the next evening. The day after, at the stroke of eight, Ugra Narain sees Madhavi posing as Madhumati in front of him. Ugra Narain is shaken; he confesses his part in her death and is arrested by police waiting outside the room. Anand realises that the questions Madhavi posed to Ugra Narain, especially about Madhumati 's burial place, were things she could not have known; even Anand did not know. Madhavi smiles and moves towards the stairs. The real Madhavi, dressed as Madhumati, then rushes into the room. She is late because her car broke down on the way. Anand realises he saw Madhumati's ghost, and not Madhavi. He runs to the terrace, where the ghost beckons to him. Madhumati had fallen from the same terrace, trying to escape Ugra Narain. Anand follows the ghost and falls to his death.
