Under the leadership of underworld Don Aslam Bhai (Madan Joshi) flourishes a criminal empire in Bombay. His close associates are Mallik (Ajay Devgan) and Chandrakant alias Chandu (Vivek Oberoi). Awaiting the right opportunity, Mallik and Chandu take over from Aslam, and become the two heads of his criminal empire.
Times change, and the two also decide to change with the times, and legitimize their empire to a very large extent and call it "Company". Differences arise between easy-going & emotional Chandu and the technical & matter of fact Mallik.
A lot of misunderstandings develop between once very good friends, Chandu loses ground and face. He decides to take matters in his own hand & set things right. He breaks away from the gang, and as a result a war results between those loyal to him on one side, and those loyal to Mallik, on the other.
Mallik's forces prove to be stronger, Chandu must decide if he compromise with Mallik or go on the right path.