Spoiler alert! Read further only if you have seen the film, since the information below reveals the entire plot of the movie.
PLOT SUMMARY
The film opens with an old man waiting for his pension file to be passed by a government official. He gets into a verbal spat with the officer who is dismissive and disrespectful towards him. Disturbed with the incident he gets a minor attack and is hospitalized.
Maya (Kangana Ranaut), a medical intern at the hospital hears his story and swings into action. She calls up a member of her 'Ungli' team and says that she's identified their first target. This sets the tone for the film. Abhay Kashyap (Randeep Hooda) television crime reporter, Goti (Neil Bhoopalam) a computer hardware specialist, Kalim (Angad Bedi) a garage owner and Maya are the 'Ungli' team - loved by the aam junta, but wanted by the police force. They are social crusaders who have taken the law in their hands (and shown the law-makers a middle finger) to fight the corruption in our country.
After work-hours they turn into vigilantes to fix big problems with simple solutions. They kidnap the officials who harassed the senior citizen, then take them to a stadium and put them on with an acceleration bomb which will go off the minute they stop running. They record the event and send the tapes to various TV news channels. Funnily, the bombs strapped to them are only 'laxmi' bombs, which will give them a bomb scare instead of a real bomb blast. Soon, the fearless foursome makes 'headlines' on news channels and they're popularly called the 'Ungli Gang'!
Police Commissioner (Raza Murad) gets pressurized by the politicians and chief minister to nab this criminal outfit. On the other hand, Teestha (Neha Dhupia) who works as a news reporter (in the same channel where Abhay works), is given the daunting task of uncovering the Ungli gang. Abhay is attracted to her, but she's focused on the biggest story of her career.
Ungli's next target. Gaikwad, a politician who plasters the walls of the city with his life-size posters. And when a NGO speaks up, they are shunned by his goons. Ungli gang barges into the politician's house (with ease), entering his room, injecting him with sedatives (remember Maya is a medical intern!) while we don't hear a whimper from him. They paste Ungli posters all over his house and leave an Ungli tattoo on his back too - all this happens while his huge security force is dwindling their thumbs (really?!).
The Police Commissioner is under tremendous pressure, he assigns the most honest and virtuous, ACP Kale (Sanjay Dutt) the task of cracking down the Ungli team. Meanwhile, Teestha is struggling to tap clues that will lead her to the pack of four. Goti advises Abhay that the only way to impress her is to tip her off on some information about the gang. Didn't crime-reporter, the super-smart Abhay (with a high IQ) ever think of this himself???
Next target. A RTO official who blindly issues a driving license to anyone - doesn't matter if you are underage or even blind - simply show him the moolah! The Ungli team straps the RTO official to the passenger seat and makes a blind man drive him around recklessly. Of course, this is a set-up, he's not a blind, but it opens up the corrupt officer's eyes to reality.
As the Ungli gang's popularity becomes unstoppable, ACP Kale decides he needs someone else on board. A cop who is razor sharp, witty and can think like a criminal. Nikhil (Emraan) his best cop-buddy's (on died on duty) son, who is calm, cool but far from ambitious about his career in the police force.
Nikhil adopts the Ungli gang's style of punishing victims to attract their attention. He explodes mini-bombs on the road leading to a BMC officer's house. The road was recently reconstructed with public money only to welcome his daughter's baraat. Nikhil records the incident (just like the Ungli gang, even using their logo) and sends it to television channels. The public assumes that this is another one of their 'good deeds', but it raises suspicion and fear amongst the Ungli team. Nikhil also leaves a message (scribbled on the backdrop of his video) asking them to meet him at a certain time and place.
After much convincing Nikhil joins their group and trains with them for their next targets. He learns about the gang's real inspiration for turning into vigilantes. Ricky (Arunoday Singh) their gym instructor and Maya's brother got beaten by Anshuman Dayal (a powerful police fixer's spoilt son). Ricky ends up in a state of coma, witnesses turn hostile and the friends are left fighting for justice. Frustrated with the corrupt system the four buddies become the 'Ungli' gang. Nikhil is moved to tears with their heart-wrenching, and soon he becomes one of them. But few scenes later his cop conscience kicks in and he discloses information about them to his boss Kale. Of course, this lasts for only a few minutes. When Kale gets his hands on them, Nikhil quickly swings into action and saves his gang.
Kale is utterly disappointed with Nikhil's change of heart, he fires some heavy-duty dialogues at him - but it's all in vain. Nikhil is exposed and the Ungli gang feels betrayed. And Kale is about to be bombed with more surprises. His boss tells him that the only way he can secure his career in the police force is by bribing the 'fixer' of all police officers (Dayal - played by Mahesh Manjrekar). Dayal parks and hoards all the excess money earned by cops and promises them a steady, solid career. Shocked and shaken, Kale he has nowhere to go - to set the system straight - but to the Ungli gang. Surprise!!! He forgives Nikhil, forgets all his righteousness and joins the gang that he calls 'criminals' (cool and convenient!)