Professional photographers Vinod Chopra (Naseeruddin Shah) and Sudhir Mishra (Ravi Baswani) open a photo studio in the prestigious Haji Ali area in Mumbai, and hope to make enough money to keep it running. After a disastrous start, they are given some work by the editor of "Khabardar", a publication that exposes the scandalous lives of the rich and the famous. They accept it and start working with the editor, Shobha Sen (Bhakti Barve), on a story exposing the dealings between an unscrupulous builder, Tarneja (Pankaj Kapoor), and corrupt Municipal Commissioner D'Mello (Satish Shah). During their investigation, they find out that another builder Ahuja (Om Puri) who is Tarneja's business rival is also involved in this dealing to get a contract for building 4 flyovers from D'Mello.