Chor Machaaye Shor is an action-comedy drama. The movie revolves around Shyam (Bobby Deol), a small-time thief who works as a security guard at a museum. Shyam devises a plan to steal a Nizam diamond from the museum with his three friends: Johnny (Rajpal Yadav), Titu (Ashish Vidyarthi) and Tony (Rajat Bedi). They are able to steal the diamond, but Shyam is apprehended, before which he hides the diamond in an old building. He is then sentenced for 2 years of jail. After 2 years, Shyam is released and he heads to the old building, only to realise that the old building is transformed into a police headquarters. Shyam decides to pose as a fake inspector to enter and steal the diamond. He soon attracts the attention of ACP (Paresh Rawal) for his heroism and becomes his favourite. While, another police officer, Inspector Pandey (Om Puri) is suspicious of Shyam’s true identity. Will Shyam succeed in stealing the diamond this time or end up in prison again?