Khaali Peeli is an action, romantic, thriller drama about Vijay aka Blackie (Ishaan Khatter) who is a cab driver in Mumbai and earlier was into black-marketing of movie tickets and been raised by a local goon Yousuf (Jaideep Ahlawat). One fine night Vijay escapes in his taxi after committing a half-murder of a fellow taxi driver. While on the run he encounters Pooja (Ananya Panday), who is also escaping a forced marriage to an aged and wealthy Choksi Seth (Swanand Kirkire). Vijay and Pooja try to outplay each other while evading cops and goons. In the process of outplaying their respective enemies they both fall in love but things take a u-turn instead as their plan goes haywire only to lead to further confusion and chaos.