In Mumbai's criminal underworld, the lord of all lords is Jahangir Khan (Pankaj Kapoor). Those loyal to him include Maqbool (Irfan Khan), his chief. But Maqbool is in love with Nimmi (Tabu), Jahangir's mistress, who convinces him to be ambitious and take over the empire. After maneuvering potential rivals out of the way, Maqbool betrays Jahangir, murdering him in his own bed. However, it isn't long before both Maqbool and Nimmi are haunted by the ghosts of their treacherous deeds.