Laxman is a brilliant student who is diverted from his studies by his mischievous band of friends, Gopal, Madhav, and Lucky. Gopal is the muscle of the group, Madhav is the brain, and Lucky is the right one but a mute. The three friends use Laxman’s hostel room for their mischievous activities. Laxman is peer-pressured into running a series of scams to earn himself and his friends some money and is punished by being thrown out of college. The naughty foursome then finds refuge in the bungalow of a blind couple, Somnath (Paresh Rawal) and Mangala (Sushmita Mukherjee), who are waiting for their grandson, Sameer, inheriting their paternal grandparents’ treasure chest hidden in the old couple’s house. Gopal pretends to be Sameer returning from America, and enters the house, while the other three friends sneak in hidden.
A cat-and-mouse game unfolds as Laxman’s body and Gopal’s voice make up Sameer. Each time the blind Dadaji comes amidst them, hilarious situations arise. Enter Nirali (Rimi Sen), the saucy girl-next-door, and the group now have time, place and ‘resources’ to fall in love. Their efforts at winning the lady’s heart fail. Apart from their romantic interests, there is a quest for the chest. There is also a gangster named Babli who wants to steal the chest from the couple’s bungalow. All his attempts are unintentionally and unknowingly thwarted by the foursome.
After the foursome finds a chest hidden behind an old painting in the house, despite Laxman pleading not to open the chest, Somnath reveals about Sameer’s death to Gopal, Laxman, Madhav, and Lucky.