Trama

The third film in Ram Gopal Varma's Sarkar trilogy, which chronicles the exploits of a powerful political figure.

Annu Karkare (Yami Gautam) conspires and attempts to avenge the death of her father, for which she blames "Sarkar" Subhash Nagre (Amitabh Bachchan). Juxtaposed with the situation is Sarkar's own personal battles with his volatile grandson Shivaji Nagre or "Chiku" (Amit Sadh).

In parallel the political and corporate diaspora pose threats to Sarkar's dominance. Assisted by his aide Gokul Satam (Ronit Roy), Sarkar deals with one of his greatest adversaries in the form of Michael Vallya (Jackie Shroff) and the moody and seemingly violent politician Govind Deshpande (Manoj Bajpayee).

A random businessman Deven Gandhi (Bajrangbali Singh) brings Sarkar a proposal to clear a part of East Dharavi to develop a Rs 20,000 Crore project. He wants Sarakar's support to clear the slums. Sarkar refuses as there is no alternate plan to rehabilitate the displaced residents. Sarkar suggests that Gandhi should offer appropriate compensation and relocate the slum dwellers. Gandhi deems that too expensive and would rather offer a smaller commission to Sarkar to force the relocation. Sarkar refuses, and when Gandhi insists that he will go to another power bastion, Sarkar asserts that he will not let Gandhi go ahead.

The businessman is known to be very well connected politically. His boss is prominent business Michael Vallaya. Michael is hands in glove with corrupt politician Govind, who runs a rabid anti-Sarkar plank. Shivaji is exiled from Sarkar's house by Sarkar's wife but wants to come back and serve Sarkar. Sarkar hesitates: the boy is hot-headed and volatile like his deceased father, Vishnu Nagre, but ultimately relents. Shivaji declares that he agrees with Sarkar's decision to kill his own son and Shivaji's father (Abhishek Bachchan). Sarkar seemingly believes Shivaji and gets him into the business by working with Gokul.

Secretly, Shivaji loves Annu, who hates Sarkar for killing her father. Chiku immediately clashes with Gokul (Sarkar's long-time loyal right-hand man) (Ronit Roy) and accomplice Raman Guru (Parag Tyagi) over various matters, including whether or not to eliminate Deshpande. It is implied that Chiku's girlfriend Annu (Yami Gautam) is using him to get to Sarkar because Sarkar had apparently eliminated her father.

Michael and Deshpande have bought off the union boss Gorakh (Bharat Dabholkar) of the east Dharavi mill. The union boss goes to Sarkar to get his permission to strike as management has laid off 500 workers. Sarkar refuses to give permission (fearing that Gorakh is sold). Gorakh insults Sarkar and Shivaji slaps him off.

Gandhi hires mob boss Shetty to help clear the slums and his goons beat up slum residents. Shivaji beats up Shetty. Gokul does not like Shivaji's strategy, but Sarkar backs Shivaji. Gradually Shivaji starts sidelining Gokul in key strategy decisions like buying off Gorakh, which Gokul is against. Gokul tells Sarkar about Shivaji's relationship with Annu.

Sarkar warns Shivaji against harming Deshpande. Gandhi approaches Gokul with the proposition to help him; otherwise, Chiku would become the next Sarkar and Gokul would remain a servant. In exchange, Gandhi promises to make Gokul Sarkar, and also help him eliminate Shivaji.

Deshpande plots with Gandhi and Vallya to instigate mill workers against Sarkar. Chikku is on the warpath to attack Deshpande. Sarkar tries to determine who is behind everything. One day, Deshpande is hotly pursued and killed, and Sarkar, who has long held a reputation for bumping the opposition, is blamed. Sarkar notes that whoever did this is determined and cunning and will stop at nothing.

When assassins open fire on Sarkar at the Ganpati Visarjan festival, it becomes clear that Sarkar's inner circle has been breached. The attack on Sarkar fails and Gokul plays an active role in saving Sarkar, along with Shivaji. Chikku shows Sarkar the video of Gandhi meeting Gokul and, separately, Gokul remonstrates and says that Chiku, used by the wily Annu and his own vengeance for his father, is behind everything. Gokul also tells Sarkar that Shivaji has come to Sarkar to avenge his father's death and to break Sarkar's dominion. Sarkar expels Chiku, and Chiku joins Gandhi.

Sarkar decides to eliminate Shivaji and discusses the matter with his invalid wife Rukku Bai (Rohini Hattangadi). Rukku begs for Shivaji's life as she has already lost her 2 sons. Sarkar listens and decides to kick Shivaji out of the house. Shivaji aligns himself with gangster Bhosle (Amal Sehrawat), who was the real force behind killing Deshpande. He then aligns with Gandhi and Gorakh to create a coalition against Sarkar. Gandhi meets Annu in private and says that she should use her control over Shivaji to stake her claim to become the next Sarkar

Vallya organizes a bomb blast at the mill. Gokul reports that it was executed by Chiku, who is now out to destroy Sarkar, and Gandhi. Around this time, Sarkar's wife passes away, and Gokul beseeches Sarkar to give the order to kill Chiku. Chiku is shot at, but he escapes. Gokul begins hunting him down. Michael takes advantage of the situation and orders the elimination of Gokul, while making sure that the blame falls on Shivaji. Gokul is then, presumably, shot dead by Chiku, and Sarkar swears vengeance. Sarkar vows to kill Shivaji.

Michael now decides to eliminate Shivaji as he feels that Sarkar is truly irreplaceable. Michael convinces Shivaji to meet Sarkar and convince him that he did not eliminate Gokul.

Michael decides to meet Sarkar and offers his help to kill Shivaji. Sarkar reveals that Shivaji did not kill Gokul. It was Sarkar who ordered Gokul's death. Shivaji and Sarkar were always working together. They wanted to expose Michael as the real puppeteer and hence the elaborate charade. Gokul was threatened by Shivaji's rise and hence was tempted to shake hands with Gandhi. Sarkar knew this very well. Shivaji arrives and kills Michael. Annu eliminates Gandhi by revealing that Gandhi was the real person behind her father's murder.

Hindsight reveals that differences with Annu had been cleared and she was taken into confidence, and that Gokul had turned to Gandhi and played a part in the mill agitation and the slum development in order to sideline Chiku, eventually hoping to become Sarkar. Their objective was to draw out Vallya. Chiku walks in, kills Raman Guru, there is another gunshot, and Vallya is shown dead. With their adversaries now dead, Sarkar and Chiku sip tea while Sarkar educates the inexperienced Chiku on palace politics.