In Pakistan's Khyber Pakhtunkhua, RAW Agent Vinod (Saif Ali Khan) is rescued by colleague Rajan (Ravi Kishan) from a rogue Pakistani army officer (Shahbaz Khan). In Russia/Uzbekistan, an ex-KGB Officer is tortured and murdered. In Cape Town, a group of international business tycoons discusses a rumor that the dead KGB officer possessed a nuclear suitcase bomb. In Moscow, Rajan is exposed and shot dead while trying to send a Code Red message to India. In India, the head of RAW sees the incomplete message containing just number 242. Agent Vinod undertakes a globe-trotting secret mission to discover the reason why his colleague, Rajan, was murdered. A series of twists and turns take Vinod across the globe to Morocco and Latvia, Karachi to Delhi and finally London where he discovers the actual conspiracy.
The kidnapping of a prominent scientist, Ajay Saxena (Nazir Hussain) prompts the Chief of Secret Services (K.N. Singh) to assign flamboyant Agent Vinod (Mahendra Sandhu) to this case. While on this assignment, Vinod meets with Ajay's daughter, Anju (Asha Sachdev), who insists on assisting him. The duo are then further assisted by Chandu 'James Bond' (Jagdeep) and his gypsy girlfriend (Jayshree T.). The two couples will soon have numerous challenges thrust on them, and will realize that their task is not only very difficult but also life threatening.