When the Kalakar Theatre Company, a theatre group in Goa, attempts to stage a political drama, the local authorities close down the play and force them to perform a more traditional play, a stage version of Mughal-E-Azam. The company then discovers that an underworld don is engineering a bomb blast to shake confidence in the Indian government. The drama company forms a plan to save the entire city from the blast. The actors, led by their producer Uday (Paresh Rawal), are assisted by RAW agent Arjun Rastogi (Rahul Bose) in their efforts to foil the bombing. Arjun falls in love with Uday's wife, Shabnam (Mallika Sherawat) who also becomes involved with an ISI agent (Kay Kay Menon). Performing multiple roles in disguise, the characters eventually save the entire nation from the bomb blast.