- A look at Mumbai's socialite party circle world through the eyes of a Page 3 journalist.
- Madhavi is a newspaper journalist in Mumbai whose task is to fill the Page 3 column. Her job consists of attending parties among the socialite and small-time celebrity circle and reporting on it. Her roommates are Pearl, an air-hostess who wants to marry a rich man and settle down to a life of comfort; and Gayatri, a struggling actress. Gayatri is seduced by a leading married actor Rohit Kumar. When she finds out that she is pregnant, he advises her to abort the baby. Dejected, Gayatri tries to commit suicide but Madhavi and Pearl save her. She loses the baby and leaves Mumbai. Madhavi's job of interacting with shallow high-society people is depressing her. She wants to do some substantial reporting for a change, so she is assigned to the Crime beat alongwith veteran reporter Vinayak Mane.—Soumitra
- Madhavi Sharma (Konkona Sen Sharma) is a young journalist, who arrives in Mumbai (from Bangalore) looking for a job. She is hired by newspaper editor Deepak Suri (Boman Irani), and is assigned the task of reporting on celebrity news, writing articles for Page 3. Madhavi wants to do meaningful articles, but Deepak is very commercially oriented and wants Madhavi to focus on what sells. Her roommate Pearl Sequiera (Sandhya Mridul) is an air hostess who aims to marry a rich man so that she can have a lavish, exciting lifestyle. Gayatri Sachdeva (Tara Sharma), an aspiring actress, later joins them at the apartment. Gayatri was living with her Mamaji, but as she got late coming home, the society people had issues with her. Gayatri is having more trouble in finding any work in Bollywood.
Madhavi meets many influential people through page 3 events like Pratima Bhave (Suhasini Mulay) & Anjali Thapar (Soni Razdan), who runs a NGO for street children. Fashion Designer Zulfi Khan (Bobby Darling) and ACP Uday Yadav (Madan Jain) (Mumbai's super-cop) Madhavi runs a piece on Anjali on page 3 highlighting her social contributions, but without telling her, Deepak gets the article edited and shortened and in the end she ends up looking like a social butterfly. Madhavi is livid, but her fellow colleagues think she took a bribe from Anjali to print the article.
Gayatri becomes romantically involved with a leading actor, Rohit Kumar (Bikram Saluja) (after Madhavi had introduced Gayatri to Rohit. Rohit connects her to famous producer Charu Mohanty (Pradeep Velankar), who wants sexual favors from Gayatri before she gets any role.), and soon finds out that she is pregnant . Rohit is aware that the pregnancy will ruin his career so he tells her to get an abortion . Depressed and shattered, Gayarti unsuccessfully tries to commit suicide and, in the process, loses her child . Madhavi plans to expose Rohit by writing an article on his relationship with Gayatri, but her editor admonishes Madhavi, and she is forced to apologize to Rohit, as Rohit has refused to perform at the publications award function. Meanwhile, Pearl marries a wealthy old man and moves to the United States, where she lives an extravagant but loveless life.
Anjali has recently committed suicide. The entire glitterati of Mumbai turns up in force, but everyone has their own agenda and wants to use Anjali's death for their own publicity. Deepak wants Madhavi to write an article, but she refuses saying she cant write about the next party or the business deals that were being discussed at the funeral. Madhavi requests to be moved to a different field, and lands on the "crime beat" with Vinayak Mane (Atul Kulkarni). Vinayak passes on his tips to Inspector Arun Bhonsle (Upendra Limaye) who conducts raids on the drug parties of the high and mighty and that's how Vinayak gets his story material. Bhosle is an encounter specialist and believes in solving some problems extra-judicially. Madhavi accompanies Vinayak as they search the city for crime related stories. Vinayak introduces Madhavi to his sources and to Bhonsle. On one such trip, they witness a bomb blast in the city, which affects Madhavi emotionally. She begins to investigate the story, but is made to cover a high-profile Bollywood party by Deepak due to a no-show by another reporter. At the party, she comes across ACP Uday in charge of the bomb blast she witnessed, insensitively discussing the incident. Madhavi is shocked to find out that the ACP was attending a film shoot while he was on duty, which delayed his reaction to the blast.
Madhavi finds out that her boyfriend Tarun Sanyal (Jai Kalra) (a model) is bisexual, when she finds him in bed with her best friend, Abhijeet (Rehaan Engineer). Abhijeet had helped Tarun land a fat modeling contract and this was payback. Soon, Madhavi becomes disillusioned with her job, and she realizes that 'the party is over' for her - the celebrity lifestyle is not as glamorous as it seems.
Vinayak goes to cover another news story in Nashik, Madhavi is asked to take charge of crime news. Madhavi learns about 28 kids being smuggled into Mumbai. when Bhonsle raids, and during the subsequent search, 10 boys could not be accounted for. The police find out that a group of boys are being held at the Thapar's private bungalow in Mud Island; but they do not have a search warrant. However, based on Madhavi's insistence, Bhonsle conducts a raid. It is revealed that Ramesh Thapar (Nassar Abdullah) has been molesting children from Anjali's rehabilitation home as well. Ramesh is arrested and police also find a connection to other corporate personalities who are involved in the scandal. Madhavi manages to capture the whole event on camera, and develops a breaking expose story. She asks Deepak to run the story as the headline article for the next day's news edition, and he promises to look into the piece and put it on the front page. However, that same night Deepak meets with the owner of the newspaper, Mr Pramod Agarwal (Yusuf Hasan), who is the best friend of Ramesh. Agarwal tells Deepak that the newspaper receives major advertisement revenue and other sponsorship from Ramesh. Fearing major loss to his business, Agarwal declines to publish the story, and asks Deepak to fire Madhavi from the company. Meanwhile Bhonsle is forced by his higher-ups to release Ramesh. Vinayak admonishes Madhavi for handing over all proofs to Deepak..
Meanwhile, Gayatri, who supposedly turned her back on Bollywood and went back to Delhi, returns to Mumbai. In order to make a name for herself, she sleeps with a film director and gets cast in his next movie. Madhavi, who eventually gets a job as a Page 3 writer for another newspaper, realizes that in the elite and extravagant lives of politicians, businessmen, film stars and socialites, there is no place for trust and honor.
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