Sidharth (Aamir Khan), is a Mumbai 'Tapori' and a boxing champion. His elder brother, Jai (Rajat Kapoor) works with Raunak Singh (Sharad Saxena), who now rules their "Basti" through terrorising its people and collecting 'Hafta' from local merchants.

Sidharth idolized his father, a freedom fighter, whom he saw falling to his death as a child. This effects Sidharth through his adult life. Sidharth meets a young girl, Alisha (Ranee Mukherjee), who rides with a motorcycle gang and Charlie (Deepak Tijori), the gang leader.

Sidharth also meets Hari, whose idealism reminds him of his father. Hari's social work in the community possess a threat to Raunak Singh's evil empire. What happens to Hari changes Sidharth's life forever.

How Sidharth breaks Raunak Singh's chains of 'Ghulami' around the community forms the crux of the story. Featuring the superhit song "Aati Kya Khandala" sung by Aamir Khan.