Theory:

"Iswaran the Storyteller" is a story written by R. K. Laxman, and it is taken from the short story collection "Servants of India". "Servants of India" speaks about the unique facades of servants working in various households in India.
 
"Servants of India" is narrated by a character called Ganesh, a freelance journalist. The book contains narratives about several interesting servants by their respective masters.

Likewise, in our prescribed story "Iswaran the Storyteller", Ganesh was invited by Mahendra to listen to the story about his servant Iswaran. While listening to the story of "Iswaran, the Storyteller", Ganesh was in two minds about whether he should include the story of Iswaran in his chronicle "Servants of India" or not. First, he thought that the story seemed to be strange to believe. Then he decided to use it because 'sometimes reality seemed close to supernatural things'.*
 
The main characters of the story are,
  • Mahendra, a junior supervisor
  • Iswaran, the cook
  • Ganesh, the listener
A female ghost, a supernatural phenomenon, can be seen as an essential aspect of the plot.
Reference:
*https://books.google.co.in/books?id=A_lVyDM7hZYC&printsec=frontcover&source=gbs_ge_summary_r&cad=0#v=onepage&q&f=false