The movie is a slapstick comedy based on a hackneyed plot.
The key protagonists, Johny (Sanjay Dutt) and Jimmy (Saif Ali Khan) are thieves. While Johny loves to rob showrooms of expensive watches, Jimmy robs rich houses in the early hours of the morning. Both of them keep going to prison, off and on, but can't stand each other.
One night they both chance upon Guptaji (Avtar Gill), who has been killed by a gang of people, Shakti Kapoor, Mukesh Rishi, Aasif Sheikh and Shiva. Before dying, he blurts out the words "Roxy Hotel, accounts department" to Johny and Jimmy.
Both Johny and Jimmy land up at the hotel under false pretences, meet Balram (Shakti Kapoor) and get employed as stewards. In the meanwhile, Balram's niece Pooja (Bipasha Basu) and her friend Kim (Kim Sharma) plan to start a hotel in Mauritius and tell Balram to dispose off the Goa property. But the scheming and corrupt Balram has embezzled the funds worth Rs. 30 crores, with the help of three crooks (Mukesh Rishi, Aasif Sheikh and Shiva) and hidden it in Mauritius. Johny and Jimmy get to know Balram's plan and demand a share in the booty. Balram calls them to Mauritius. In the meanwhile, the three crooks also hatch a plan to eliminate Balram and take the booty themselves.
They all move to Mauritius now. Balram is murdered. Johny and Jimmy are in a fix since only Balram knows where he had hidden the booty. In the meanwhile, the three crooks take the body to a tantrik (Supriya Karnik), who says that the dead body of Balram will react to a Mauritian song.
Everyone now chases the treasure with help from the dead body.