The American, Krishna Sahni, has come here simply to become a Hindi film star in Bollywood. He meets up with the tyrannical film producer Don Mastana, who finances movies in order to launder dirty money. Fearing the Don's power and volatile demeanor, Krishna is strong-armed into playing the hero in a movie designed to flop and, in the process, allow Mastana a large tax write-off. However, the Don underestimates Krishna's acting talents, and the movie becomes an unexpected hit. Mastana is enraged by the success off the movie and Krishna is forced to flee for his life.

Xerxes Mistry, an aspiring musician, travels from London to Bombay in the hopes that an exotic setting will help him to discover his true sexual identity. Pesi, the affable, gay landlord who eventually takes the boys in, provides the logic in Xerxes' search for self-understanding, guiding him towards truth while pursuing his affection. On the wilder side of this story are a trio of happy-go-lucky rock musicians who befriend Xerxes and provide a heavy dose of comic entertainment with their energy, irresponsibility, and utter lack of intelligence.

The third expatriate, Ricardo Fernandes, a handsome beach bum from Australia, comes to India in search of his long-lost brother; but undoubtedly has romance on his mind as well. He falls irrevocably for Dolly, the shamelessly capricious mistress of a powerful crime lord, none other than Don Mastana. During their stay, all manners of chases, climaxes, and conflicts befall them most of their own doing. Each character gets involved with the other as their stories are comically intertwined. With a combination of humor; irony, sensitivity, and controversy, the film races to a speedy conclusion. Along the way, a thoroughly modern image of Bombay emerges, :that of a thriving urban metropolis.