Arjun Joglekar (Mukesh Khanna) is a brave, honest, tough police officer, he lives in this city Bombay with his wife (Beena), a teenaged sister Shivangi (Rageshwari) and Younger brother Karan Joglekar (Akshay Kumar). Karan is also a Police Officer may be just a shade better than is brother.
During an investigation Arjun is killed by Goli (Shakti Kapoor) a force to reckon within the underworld. Karan furious about his brother's death comes across the only witness to his brother's murder, Mona (Shilpa Shetty).
Goli and his men cannot afford to have Mona taken to court. They find Mona who is with Karan. Goli and his men attack Mona. Karan in a desperate battle tries to save Mona but to no avail. Mona is killed by Goli. Karan looses his only witness. Karan is very broken and frustrated man because of this failure.
All this same time there is another very frustrated young man seething with anger. He is Deepak Kumar (Saif Ali Khan). He is a big star, he is a teeny hopper super star but very frustrated with the type of characters he is asked to do, he needs to break out of his romantic image and create a He-man image for himself by doing a film where he gets a chance to do something extraordinary, some amazing character. On a chance meeting Deepak sees Karan in an action against some bad elements and right there and then he decides that Karan was the character to be played. Deepak sees super stardom for himself by playing Karan Joglekar in a film.
Deepak with his connections gets permission to stay with Karan Joglekar for a month as he could study Karan.
Karan who is totally abscessed with his investigations cannot afford to have Deepak as his sidekick but he is forced by his superiors to do so.
Karan now comes across a street dancer who looks very much like Mona (Shilpa Shetty). He convince her to become Mona but to make her into a suave, sophisticated cabaret dancer he needs Deepak to train her so he strikes a deal with Deepak. Deepak will train Mona and in turn Karan shall allow Deepak to be with him all the time Deepak successfully transforms Basanti into Mona and plants her in Goli's hotel as Mona, convincing Goli that Mona was saved and that Mona had lost her memory what happens between Karan and Deep together, whether Karan succeeds in bringing Goli to Justice, what happens to Mona who has now fallen in love with Karan? Deepak in due course of time falls in love with Karan's sister. Will Karan accept his sister's love for Deepak? All these questions shall be answered when you see "MAIN KHILARI TU ANARI".
(From the official press booklets)