One Two Three is a comedy-drama. The movie revolves around three men with the same name Laxmi Narayan. Laxmi Narayan 1 (Tusshar Kapoor) is a poor man, who lives in Mumbai with his widowed mother Kanta, and he accepts the contract to kill D’Mello Yadav (Mukesh Tiwari). Laxmi Narayan 2 (Suniel Shetty) is a secretary of D. M. Pipet who wants him to buy a vintage car from a Pondy-based car dealer. Laxmi Narayan 3 (Paresh Rawal) sells undergarments and travels to Pondy to meet a new supplier. However, things take a chaotic turn when they are mistaken for each other as they stay in the same hotel, and all three end up in the wrong place adding more confusion.