Yash (Sanjay Dutt) and Raj (Akshaye Khanna) are small time crooks and childhood buddies. Raj wants to lead an honest life, but alas, Yash always manages to do something, that jeopardizes Raj's chances of turning over a new leaf. When Yash robs the First Village Bank, the innocent bank manager, Zandulal (Paresh Rawal), also falls under suspicion, just because he had sheltered Yash and Raj under his roof. Zandulal begs the Bank Chairman for time to look for the two and prove his innocence.
Here in Durban, Arjun Singh (Anil Kapoor) is a bungling ham-handed cop, married to Kajal (Sushmita Sen), the daughter of the commissioner of the police (Shakti Kapoor). Kajal has a split personality - one moment she's a loving wife and mother, who for 10 minutes everyday, transforms into a terrifying maniac intent on murdering her husband! Diamonds worth millions have been stolen from the International Diamond Centre. No witnesses have survived the shooting spree unleashed by the gang lead by Marcos (Suniel Shetty). Arjun is as determined to find these ruthless robbers, as Zandulal is to find the two crooks who robbed his bank.
Yash and Raj try to avoid Zandulal who does not realizing that they are his neighbours. Meanwhile, Raj falls in love with Sanjana (Kangna Ranaut), Kajal's younger sister. At the engagement, Zandulal threatens to expose Yash and Raj unless they return the money they stole from his bank. Cornered, Raj and Yash agree to commit one last robbery. They rob a minister's house, minutes before Marcos arrives. The minister is tortured and killed, because Marcos cannot find the stolen diamonds.
Now starts a game of hide and seek, as Arjun goes after Yash and Raj, the prime suspects in the minister's murder and Marcos also hunts them down because he's figured out that they have the diamonds. With Sanjana's help, Yash and Raj must prove their innocence and also somehow or the other pays back Zandulal...