The demand for electricity increases at a rapid pace as a country modernizes and its economy grows. The demand-supply gap in power in India has been increasing steadily in recent years. Smart grid is a recent development that improves the quality of power delivery to consumers by allowing two-way communication and the distribution of smart devices. Though reliable, it does have defects like Power Quality issues such as harmonics, voltage and frequency fluctuations, Storage, Protection issues and Islanding. Power theft is one of the most serious problems. Stealing of electrical power is referred to as electricity theft. This paper proposes an Internet of Things (IoT) based Power theft monitoring control system which can monitor the real time current through all the constituent network as well as the source. So that in case of any power theft the power cut can occur automatically or manually based upon this real time data.