In this paper, we present an approach for scene text extraction from natural scene video frames. We assumed that the planar surface contains text information in the natural scene, based on this assumption, we detect planar surface within the disparity map obtained from a pair of video frames using stereo vision technique. It is followed by extraction of planar surface using Markov Random Field (MRF) with Graph cuts algorithm where planar surface is segmented from other regions. The text information is extracted from reduced reference i.e. extracted planar surface through filtering using Fourier-Laplacian algorithm. The experiments are carried out using our dataset and the experimental results indicate outstanding improvement in areas with complex background where conventional methods fail.