A fake CBI officer calls a local police officer to assist in the raid of a politician's residence. The CBI team comb the house and uncover black money worth lakhs hidden in the ceiling, inside a vintage car, under god's statue etc. The embarrassed politician sits through the entire drama while the officers seal and take away his money. The police are left to hold fort till the team returns. Except that the team will not return and there were no CBI officers to begin with. This is all part of Ajay Singh (Akshay Kumar), Sharmaji (Anupam Kher) and their friends con job.
They pretend to be CBI/Income Tax officers and raid the houses of politicians and wealthy businessmen. Not only do they steal insane amounts of money with the help of the local police (without having to shell out a part for the cops), none of their grand thefts get reported as the politicians and businessmen do not want to speak about their black money or they have a reputation to worry about. But one cop, Ranveer Singh (Jimmy Shergill), has taken this insult to heart. After getting suspended with his colleague Shantiji (Divya Dutta), he asks the help of the real CBI officer Waseem Khan (Manoj Bajpai) to help nab these impostors.
Now begins the game of cat-and-mouse. While Ajay wants to draw the curtains with a final huge heist, he decides to recruit 26 people in the guise of the CBI to create his Special Chabbis 26. Waseem cannot let a criminal get the better of him.