'Shikari' is an emotional drama of the reunion of a family amidst a drug trafficking business being carried out in a circus. Shankar (Mithun Chakraborty) has a dream to join a circus. Destiny makes him meet Natasha (Irina Kushnareva) who is part of the troupe of an Indo-Russian circus. Chanchal (Varsha Usgaonkar), Shankar's partner in crime, is jealous to see them getting friendly.Mr. Bose (Gulshan Grover) and Nahar Singh (Amrish Puri) are drug dealers who have planned to export heroin to Europe in the cage of elephant Appu belonging to the same circus. This is the same Bose who has killed Shankar's father. Shankar's elder brother Fakira (Naseeruddin Shah) has devised his own way to deal with the killers of his father by becoming a part of their group and stabbing them in the back. When Shankar finds out about Fakira's plans he joins him and they manage to kill Nahar Singh. Amidst all this their pet elephant Appu proves to be of great help.