Amar (Aamir Khan) and Prem (Salman Khan) are two daydreamers with a common aim: getting rich by marrying a rich heiress, Raveena Bajaj (Raveena Tandon), daughter of Ram Gopal Bajaj (Paresh Rawal). The guys run into each other on a bus and soon realize that they have a common goal. The duo fail at various attempts to woo the lady.

Finally, they decide to insinuate themselves in her house. Amar pretends to be a guy who has lost his memory after getting hit by Raveena, while Prem pretends to be a doctor. The boys don't know that Raveena's secretary Karishma (Karisma Kapoor) is real Raveena. She switched her identity because she wanted to find a boy who will love her, not her money.

Nobody is aware that Ram Gopal has a twin brother called Shyam Gopal Bajaj aka Teja. Teja is a criminal who has taken lots of money from Crime Master Gogo (Shakti Kapoor). Teja hopes to land the riches himself by kidnapping his brother and posing as Ram. He has also planted his cronies Robert (Viju Khote) and Bhalla (Shehzad Khan) in the household.

Ram arrives in India & Teja plans to steal Ram's money converted in diamonds. Here, Ram sees through the real nature of Amar & Prem, thus declining Raveena's marriage to anyone of them. The duo plan to fake a kidnapping where they will heroically "rescue" Ram. Unknown to them, Teja has planned to kidnap Ram as well. Teja succeeds in having Ram kidnapped. The boys go to release Ram, but Teja makes them believe that he is Ram and finally enters Ram's household. Initially, nobody suspects a thing, but the girls soon smell a rat. The boys have discovered real identities of the girls. Prem has fallen for real Raveena while Amar has fallen for real Karishma.

The girls tell their suspicions to the boys. The boys tail Teja and soon find out the truth. Here, Ram tricks Teja and escapes the prison. However, the boys mistake him for Teja, resulting Ram to be imprisoned again - with Amar & Prem. However, Amar & Prem succeed in convincing Robert & Bhalla that Ram is actually Teja.

The boys, along with Robert & Bhalla, stop Teja. However, Ram is kidnapped along with Raveena & Karishma. The climax takes place in Gogo's lair, where the boys try to control the situation along with Ram. In a comic standoff, the real motives of each villain are revealed. However, due to the smartness of the boys, police raid Gogo's lair, thus rounding up all the criminals. Ram finally decides to have the girls married to Amar & Prem.