Loot revolves around the misadventures of four criminals comprising Builder (Sunil Shetty), Pandit (Govinda), Akbar (Jaaved Jaaferi) and Wilson (Mahakshay Chakraborty) who work for one Batliwala (Dalip Tahil). The four rogues are sent on a mission to Pattaya to rob a house filled with priceless valuables. However, the quartet soon discover that the house they have been sent to rob belongs to a dreaded don named Lalla Bhatti (Mahesh Manjrekar), an unpleasant sod who doesn't think twice about breaking his own brother's arm (Shehzad Khan) for an unpaid debt. If robbing a don's residence was not enough, the quarter also manage to get in the way of a 'poetic' spouting Intelligence agent VP Singh (Ravi Kissen) keeping tabs on the don, an underworld patriarch Khan (Prem Chopra) and an East Asian thug named Asif trying to trace his stolen car. Pretty soon, all the characters of the film are pulled in a cat and mouse game with each other, with some audio tapes containing some damning conversations being the prize of the game. In the climax, the quartet, with some help by a local hustler Varinder (Mika Singh) and his moll Sharmili (Kim Sharma) manage to set off the bad guys against each other. But soon enough, it is revealed that Batliwala was behind the whole thing, and wanted to set the quartet up to get revenge on his brother who is now in jail because of them. The quartet manage to save themselves and hire Khan to murder Batliwala