Veera Raghavan, an Indian RAW field operative is assigned to capture a terrorist named Umar Farooq. While he successfully manages to do so, a missile shot by him to prevent Farooq's escape injures and kills a civilian child, traumatising Veera, who quits the agency and returns to Chennai. Months later, Veera is still reeling from the after-effects of the child's death. He meets Preethi at a wedding, and they fall for each other, where she convinces him to join her company Dominic & Soldiers, a failing security service. Meanwhile, the Tamil Nadu government gets intel that a major terrorist event is planned in Chennai. He meets Preethi at a wedding, and they fall for each other, where she convinces him to join her company Dominic & Soldiers, a failing security service.

1871: Shamshera is a Khameran tribesman, who along with his people was oppressed by the people of Kaza because of caste and status discrimination. Due to this, Shamshera counterattacks and pillages the kingdom, which leads to Kaza, creating a fearful reputation against the Khamerans. The kings and the wealthy men of the empire seek the help of the British to drive away the Khameran tribe from their village forest. The British accept the deal in exchange for 5000 gold coins. The British attack the Khameran tribe, but Shamshera and the tribal people fight valiantly and the British flee. Shamshera receives a message that their tribe could live peacefully and regain their lost respect if they promised to stop plundering Kaza and move to a fortress outside the city premises. Shamshera and his men arrive at the forest where they realize that it is a trap led by Shudh Singh, and are captured where they are tortured mercilessly.

Captain Vikrant Khanna is an accomplished pilot, who is preparing for a flight from Dubai to Cochin. He parties before the flight, and feels tired on boarding it, where his co-pilot is Tanya Albuquerque. Later, a cyclone in Cochin leads to the flight being diverted to Trivandrum on Khanna's suggestion, despite objection from Albuquerque. Albuquerque says that Bengaluru has to be the second option, not Trivandrum, as the latter is near Cochin and has a high chance of having bad weather too. Khanna says that if they divert to Trivandrum, they can attempt a landing there and save fuel. Due to miscommunication, the pilots do not realize that Trivandrum is facing weather worse than Cochin, which reduces the visibility level. Captain Khanna manages to land the flight while closing his eyes, and averts a major disaster.

Sixteen years have passed since Rakesh Trivedi (Saif Ali Khan) and his wife Vimmi Saluja Trivedi (Rani Mukerji) retired from conning others with the brand "Bunty Aur Babli" for money, having been let go by DCP Dashrath Singh. A businessman named Chaddha (Neeraj Sood), as well as his rich affiliates, decide to invest money in a "party nation" by Chaddha's assistant and his friend. However, it soon turns out that Chaddha and his associates have been conned, and the culprits, revealed to be Kunal Singh (Siddhant Chaturvedi) and Sonia Rawat (Sharvari Wagh), decide to take on the pseudonym "Bunty Aur Babli", having heard stories of the original "Bunty Aur Babli" who were never caught, assuming that they would be able to escape from the clutches of the law, too.