By mithun shetty(22 Jul 2009)
Raj Malhotra (Akshay Kumar) is a prankster and a player (hence the name Khiladi) who never backs down from a bet. He studies in college with his friends Boney (Deepak Tijori) and Sheetal Nath (Sabeeha). When a new girl Neelam Choudhary (Ayesha Jhulka) joins the college, he instantly falls in love with her and tries to woo her. At first she rebuffs his advances, but gradually begins to befriend him and eventually falls in love with him. The four friends enjoy the rest of their summer together until one day Raj bets Sheetal that he can con Sheetal's wealthy father, Kailash Nath (Prem Chopra) by staging her fake kidnapping and succeeding in it. Sheetal agrees and the foursome hatch up a plan. They phone Kailash Nath and tell him that Sheetal's been kidnapped and that they want 10 Lakh Rupees in exchange for her.
The four stay overnight at a secluded cottage and wait for Kailash Nath to deliver the money. After some confusion, he finally delivers the money, but his nervous actions alarm the police who spy on him thereby trying to catch the kidnappers themselves. Raj and Boney go to collect the money but the police, led by Raj's brother Suresh Malhotra (Shakti Kapoor), also get there. In the confusion they narrowly escape with the money and head back to the house to return home with the girls. Raj and Boney meet Neelam in the cottage and head inside, but as they enter to meet the girls, Sheetal stumbles towards them and collapses; she has been stabbed in the back.
The three are shocked by Sheetal's murder and fear that they will be implicated for her death. Out of desperation, they hide her body in the trunk of their car and go back to their homes acting as if everything is normal. However, Sheetal's body is soon discovered and the three begin to panic. Meanwhile, Suresh tries to uncover the whole kidnapping while pursuing the killers. Raj and Boney begin to get rid of any clues that may lead Suresh to them. But as they keep getting rid of any potential evidence which can incriminate them, they discover an even bigger conspiracy surrounding Sheetal's death.