In the dead of night, Renuka escapes from a Delhi brothel after stabbing a policeman to death. She takes refuge in a community of sex workers in northern India, where she meets Devika, a young girl condemned to a life of prostitution. Their bond develops into a forbidden romance. Together, they embark on a perilous journey to escape the law and forge their path to freedom.

Madly Bangalee is a Bengali rock band that inspires the film’s title. They rehearse in a dowdy garage of Kolkata, owned by Bobby (Lew Hilt), who owns Bobby’s Garage. Four young boys with stardust in their eyes practise their numbers not knowing what they are really aiming at. But the garage is under threat from a South Kolkata don Baburam (Chandan Sen). One morning, an elderly man, San (Anjan Dutt), arrives from "America and Paris." Baaji, (Sumit) the drummer who is a Muslim had to drop out of school. He escapes from the trap of turning a terrorist like his older brother Sultan. He later becomes a police officer who bashes up everyone who tries to bribe him. Neon (Tanaji) plays the rhythm guitar but, sucked into the world of drugs, he disappears from the face of the earth with his guitar. Pablo, lead singer, bass guitarist and lyricist, leaves for the US and the group breaks up. Bobby dies.