I would rate this film not exactly as "Time Pass", but above that, watchable, if you want to see something new or "Hat Ke", rather then hurting yourself will all the run-of-mill stories.
The first half of movie drags while the second half has more pace that it should have been. Also, there was no reason to introduce comic relief in form of the non-sense "Chhota Vakeel" stuff. It is ridiculous that Indian Directors still cannot come out of notion that there "Should Be" a comedy in movie, whether it seems appropriate or not.
One can feel that Urmila is doing the sequel to her role in "Kaun". However, character of "Jai" is portrayed in a very good manner, with all the weaknesses and down-to-earth nature, rather then depicting him as a typical Hindi movie "Hero". Other characters give in their fair share.
On an whole, a nice movie, if you want to see something different. I should appreciate Ram Gopal Verma and Rajat Mukherjee for coming out with some different stuff. Next, time they should concentrate on building more solid story line. Perhaps, they could have taken clue from Yash Chopras "Darr" (Which ironically fails in second half)