Unable to get accepted, four academically-challenged students decide to open their own college.
After barely making it through their Secondary School Certificate examinations, Ritesh Virani, whose father is a Kabadia, is unable to get admission in any college. He is not the only one though, his pals Pooja Nigam and Nanj Nair are also in the same leaky boat. They attempt in vain to secure admission through the father of their scholarly pal, Vishnu Vardhan. Then Ritesh's father decides to fire his hired help and get his son to do the work, and Pooja's dad decides to get her married, the desperate friends get together and concoct a fake college 'Fakirchand And Lakirchand Trust University', with the help of their money-lender friend, Google Chand. They recruit school-teacher, Baaji Rao, as Principal, whose performance is unacceptable by his school principal due to lewd references to 'Munni's Badnami' and 'Sheila's Jawani'. Google Chand offers them a derelict mansion in Panchgani, which they must renovate, invite their respective parents and show them that they have finally been accepted in college. Things get out of hand when scores of youngsters with poor marks show up, insisting on being admitted. Unable to handle the situation, the group let things ride - but not for long - for soon the police and Mr. Vardhan will get involved - threatening to burst their bubble once and for all.—rAjOo ([email protected])
Ritesh Virani (Jackky Bhagnani), Niranjan 'Nanj' Nayar (Angad Bedi) and Puja Nigam (Puja Gupta) pass with bad percentage in their exams.Ritiesh is an avid planner and Manager, who promises his father, who works in a salvage shop, that he will one day go from Ritiesh Virani to Mukesh Ambani. Nanj is an avid fitness freak but cannot bring himself to explain it to his Tamil Brahmin father. Puja constantly threatens and bullies her father with suicide whenever he brings up the subject of her marriage.
The trio's friend Vishnu (Chandan Roy Sanyal) is a top student who's afraid of his strict and overbearing father Mr.Vardhan (Akbar Khan). Mr.Vardhan scolds his son for even getting 1% less(94% instead of 95%). Vardhan is a big business tycoon & a major donor to a top college, due to which Vishnu's admission is all but secured. Vardhan believes that Vishnu's loss of a percentage point is due to Vishnu's friends.
After being unable to find an admission, they beg Vishnu for a meeting with his dad & they ask their parents to persuade Mr. Vardhan to recommend seats for them at the college where he donates, but Mr. Vardhan humiliates them publicly, saying that "If the parents were a little more responsible, their children wouldn't be this useless" and then proceeds to praise his own son.
Seeing their parents' upset and humiliated faces, they use Vishnu's help to create their own fake college website, admission letters & such. But then the parents ask to see the college, so they also use help from Google Chand (Arshad Warsi), a very close relative of Ritesh, as well as a genius to set up the physical premises of the college, a full-page newspaper ad so on. After the college is set, they name it "Fakirchand and Lakirchand Trust University (F.A.L.T.U.)". They hire Bajirao (Ritesh Deshmukh), a small nursery teacher as the principal. The plan is to hoodwink the parents for one day & then dismantle the whole shebang.
Their plan goes awry when some random and useless children from around the country show up for their admission at F.A.L.T.U. The prospective students become restless forcing Ritesh to come out & tell the truth. The students refuse to leave the college as they have nowhere to go to. Google allows them to us the college building & the "college" is in session.
The first three days pass with the students partying hard. When Ritiesh goes to his home, his father shows him a simple philosophy about his salvage yard, "these things you see around you are treated like junk by the world, but we have repaired them so that they can be used again", that makes him realize that partying is not the only way of life. Ritiesh and Bajirao try to make the students study by calling them as their parents. The students try to study the books that they are handed, but they can't understand them, leading them to burn them in a partying spree.
Bajirao and Google are angered at the loss of fine education and the students' attitude and leaves. Ritiesh, Puja and Nanj try to convince Bajirao to stay, saying that they'll accept any punishment. Bajirao makes them sit in a graveyard, saying that their parents, while thinking of their children's future, were scared like they are now. He makes them write their hobbies and their passions. F.A.L.T.U thus becomes a multi talent university, using lecture videos from different professionals (DJ Suketu etc.) .Ritiesh even designs a website using these videos so that people can learn their passions and hobbies from this website. Mr.Vardhan, growing suspicious of his son, finds out about F.A.L.T.U, and proceeds to shut it down, but Google obtains a stay order from the court.
The news about F.A.L.T.U goes on the news and the papers, and the students are disowned by their parents. But Ritiesh's father supports his son, saying that not many people come up with an idea to start a college and educate people. Many come in support of F.A.L.T.U. Therefore, the students take part in a talent competition for universities, where after their performance, they are humiliated by Vishnu's father.
Then, one of the show judges, Mr. Subodh (Mithun Chakraborty) HRD Minister & Vardhan's boss enters, he stops Vishnu's father, and asks what they have to say. Ritiesh then gives a speech that 35% is Pass, yet they give jobs and admissions to people above 70%. The majority of students between 35-70% are the F.A.L.T.Us and that it is derived from the country's own education system". Mr. Subodh then tells them that he has a 4 year old granddaughter who always asks him why we must study. He hasn't been able to give a satisfactory answer but they have given the answer to that question. he then approves F.A.L.T.U as a real and important college for the next 3 years, as he sees true education in their fate, and hope.In the end, Bajirao does what he is best at, a principal with principles. Everyone respects him for that, and he is trying to adjust with it. Nanj fulfills his dream, becomes a fitness-trainer. Puja becomes a DJ. Vishnu frees from his dad's jungle and decides to become an actor. Google Chand is still relaxing in his pad, still living life while he can. And Ritesh now owns F.A.L.T.U, which is now full of 2000 students.
