Daydreamer Rajaram lives a poor lifestyle in a village in India along with his aunt and an unmarried sister, Malti, who has mortgaged their shanty house with Sukhi Lala so that she can educate Rajaram in Bombay. Rajaram pretends to be wealthy in order to get married to his sweetheart, Nisha Sharma, much to the chagrin of her dad who wants her to get married to a boxer, Ranjeet Gupta. After Rajaram gets a degree in Arts he returns home and finds out about the debt, he attempts to find work, ends up working as a laborer with Sukhi, but is beaten-up when he is found slacking. Rajaram returns to Bombay, meets with Suleiman, and takes up collecting waste material (Dabha Batli) from households for a fee. One day he comes across a bottle, which falls down and out pops a 20000 year old Genie with magical powers. Rajaram does not want anything to do with this Genie, who insists on helping him for one year regardless. With his help Rajaram and Suleiman improve their lifestyle, albeit with a lot of problems, and also improve Rajaram's chances of getting married to Nisha. Things get complicated when the Genie loses his ring, which ends up with Ranjeet, who summons another Genie, Jumjumbo, from the very pits of hell, and abducts Nisha and her dad in order to force Nisha to marry him. Rajaram and the Genie set out for their rescue - only to find that the Genie has no powers underground - and both end up at the mercy of the evil Jumjumbo and Ranjeet.
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