Khiladi 786 story is about Champak Lal (manoj joshi) who is the owner of a marriage bureau but his son Mansukh (himesh) is a total failure in life. All alliances he tried to set up have ended up as breakups even before marriage. To prove his mettle, he decides to fix an alliance between Indu (asin), sister of the dreaded don TT (mithun) and inspector Bahattar Singh (Akshay Kumar) who is based in Punjab. Mansukh manages to convince TT to pretend as a cop. But what they don’t know is Bahattar Singh, his father Sattar Singh (raj babbar) and his uncle Ikhattar Singh (mukesh rishi) are actually conmen. What happens after that forms the rest of the story.