White knights are individuals who enter into romantic relationships with damaged and vulnerable partners, hoping that love will transform their partner's behaviour or life. Existing literature on white knight is limited to a handful of studies, primarily based on Western population. The present research aimed at developing a substantive theory on white knight syndrome in an Indian setting. The study follows a qualitative paradigm and the research design is grounded theory approach to be specific. Participants for the study were screened using Lamia's white knight checklist. Data has been collected from eighteen young adults aged 18-25 years through semi-structured interviews. The data was analyzed using Strauss and Corbin grounded theory analysis. The study identified six phases-pre-relationship phase, needs exploration phase, shining white knight phase, drained white knight phase, golden realization phase, and finally delayed breakup. Along with the phases, the study identified factors, characteristics, and types of white knight. The study has implications in the clinical and counselling field in identifying and understanding white knight tendencies. Additionally, the theory is applicable in the Indian setting highlighting the intricate interaction between culture, norms, roles, and the recent social factors.