Victoria No. 203 is a crime comedy thriller drama and a remake of the 1972 film Victoria No. 203. It is about the heist of expensive diamonds and the life of people who are after the diamonds. The movie shows how their lives are intertwined because of their common goal of getting the diamonds. Bobby Bombata (Javed Jaffrey), a huge industrialist, plans to steal the diamonds with his girlfriend, Devyani (Preeti Jhangiani). They appoint Ranjit (Kamal Sadanah) and Tora (Tora Khasgir) for the theft. Tora dies but hides the diamonds in the carriage, Victoria No. 203. Jimmy (Jimmy Shergill), a diamond expert, and two small-time crooks Raja (Anupam Kher) and Rana (Om Puri) are also behind the diamonds.