Babban, played by Arshad Warsi and his uncle Khalujaan, played by Naseeruddin Shah manage to fool a jewelry store owner by posing as a Nawaba and attendant and escape with a precious necklace. While escaping the police, both get separated and Khalujaan gets injured. The necklace also gets lost in the process. Babban’s boss threatens him for double-crossing him with his uncle. Babban thus promises to be back with his uncle and the necklace.
Khalujaan later goes to a mushaira contest organized by Begum Para, olayed by Madhuri Dixit, a widow from Majidabad. The contest winner will supposedly get to marry Begum Para and become the Nawab of Majidabad. Babban confront him about returning home with him and the necklace but is smitten by Muniya, played by Huma Qureshi. To woo Begum Para, Khalujaan tries to give her the stolen necklace but after the contest the winner is announced as Jaan Mohammed, played by Vijay Raaz.
It is later revealed that Babban comes as a masked man to stage Begum Para’s kidnapping planned by her to extort money from the new Nawab Jaan Mohammed. It is also revealed that her previous Nawab was not as rich as he claimed to be and had an affair with Muniya. So after he died he becomes completely bankrupt leaving Begum with a mortgaged palace. Jaan Mohammed who she has been courting, and her hatch a plan to win the contest.
Not wanting to marry Jaan, Begum stages the kidnapping to get money from him or he will never become a nawab. Babban who is hired by her asks Jaan to get 100 million at a railway station. All of them arrive at the station and get surrounded by jaan’s goons. A poet who was abducted by Jaan comes with the police and cross-firing starts where Begum and Muniya escape while Khalujaan and Babban are arrested. They later learn that the women have sold their stolen necklace and used the proceeds to settle.
The movie is directed by Abhishek Chaubey and produced by Raman Maroo and Vishal Bhardwaj. The music is composed by Vishal Bhardwaj.
