Sanjay and Akshaye, childhood friends and small time crooks rob a bank managed by Paresh. The two of them specially, Akshaye, on and off contemplates changing tracks and leaving the world of crime. Sanjay on the other hand almost every time manages to do something which closes all doors for Akshaye to change his life. This bank robbery also does the same. Akshaye is back where he belongs.
Paresh is accused as an accomplice of Sanjay and Akshaye since the two had stayed in his house the night before the robbery. Paresh swears he will not return without the proof of his innocence.
Anil is a cop and married to Sushmita, the daughter of the commissioner of the police, Shakti. Anil by fate manages to nab a big criminal Sunil Shetty in an earlier operation was shot 16 times but survived. The only downside being that two bullets are still lodged in his body and as they travel inside they tickle him no end. Anil's demeanor has been a constant irritant for Sushmita who has over the years developed a unique split personality. For 10 minutes every twenty four hours she gets a fit during which she wants to kill Anil. But once she is out of the fit, she returns to be being the wife, who earnestly expects her husband to improve his ways.
Anil and Sanjay know each other but Anil's opinion of Sanjay is of a decent man. Paresh reaches the city looking for Sanjay and Akshaye and takes a room on rent right above their house. What ensue are hilarious situations of hits and misses.
Akshaye in the meanwhile has fallen in love with Kangana. Kangana is Sushmita's younger sister. Sanjay helps him as they go to Shakti's house for fixing a date for engagement. Anil knows Akshaye is a con man, but cannot help as akshaye blackmails Anil too. Paresh by co incidence comes to know about it, and introduces himself as Akshaye's uncle. He tells them to return his money or he shall expose them, cornered, Akshaye and Sanjay agree to do a last robbery.
During the robbery, Suniel Shetty kills white collared mafia boss because the diamonds he had smuggled for him are now missing. It was because of the same diamonds the white collared mafia boss had informed the cops of Sunil's whereabouts and Anil had managed to nab him. It's almost time for Kangana and Akshaye to exchange rings as Anil enters and handcuffs Sanjay, Akshaye and Paresh for the murder of the white collared mafia boss. Kangana is heart broken. The three are jailed for murder.
Sanjay, Akshaye and Paresh escape from jail. Their getaway puts Anil in a fix. Suniel Shetty realizes that since Akshaye, Sanjay and Paresh were at the same place, the diamonds must be with them. As things move on, there are sequences of each one crossing each other's path. Sanjay, Akshaye and Paresh discover the fact that it was Suniel Shetty who is the actual murderer. But Anil refuses to believe them.
Sushmita's fit are increasing day by day, Kangana, after the initial resistance gets to know the truth and decides to be by the side of her husband, Akshaye.Anil lays a plan to trap the three and get Kangana back home. Anil's plan backfires big time as Kangana helps the three run away.
The diamonds are now revealed and we realize that it was Sanjay who had picked them up during the robbery. All hit Sanju and lock him up, But when they meet the Villians on the sly for the proof of their innocence.
Now it's Sanjay who holds the key; the diamonds as well as the villains moll for a fare trade, but never wants to part with the diamonds. A meeting is arranged and through his devious plan he succeeds in getting the proof and at the same time puts the Villian and his thugs behind bars but in this scuffle of rip roaring ups and downs Sanjay loses the diamonds to the vast ocean.
They get their names cleared but now their only mission in life is to find the diamonds which they have been fishing for ever since then.