Aishwarya (Ambika) is a reporter for a newsmagazine looking to investigate the connection between politics and crime in Kerala. She is drawn to the life of Sagar alias Jacky (Mohanlal) who runs a clandestine gold smuggling business for Shekharan (Suresh Gopi), the son of a the state Chief Minister. Jacky is an enigmatic character who stops the smuggling business from growing because of ethical issues with narcotics, and spends his personal time pining for a girlfriend (Urvashi) who is serving time for murder. Ambika publishes a sensational article connecting Jacky to the minister, and pushes the uneasy relationship between Shekharan and Jacky into an open confrontation.

An underworld don who operates internationally, Sagar Alias Jacky had to deal with the likes of Naina (Suman) and Goa based Rozario brothers who want to do away with Sagar. But each time Sagar with his fearlessness and brilliance in plotting, outplays them. The film starts off very interestingly when Indhu(Shobhana), the daughter of the state chief minister (Nedumudi Venu) calls Sagar to save her husband Manu (Manoj K Jayan) from the clutches of Rozario brothers.