Ishwarchand Thakur (Amitabh Bachchan) and Sumitra Thakur (Shefali Shah) are a married couple who run a toy factory together. They have a son named Aditya Thakur (Akshay Kumar) who does not have any interest in responsibility or what he wants to do in life. It gets even worse when he elopes with his girlfriend, Pooja (Priyanka Chopra), the daughter of Natu (Boman Irani).
When Pooja gets pregnant, both Ishwar and Sumitra decide to make Aditya realise his responsibilities, as he will have to take care of his wife and child. They take drastic measures and throw Aditya out of the house along with Pooja. As a result, Aditya and Pooja live in a room at the back of the house in the garden. The force becomes so bad that Aditya begins to hate his father and they do not speak to each other for a long time. At the same time Aditya becomes aware of his role in life.
However, Ishwar has done all this for a reason and is hiding something. Ishwar is trying to make sure that his son is secure but because he is suffering from lung cancer and he wants his son to be responsible. Aditya succeeds in becoming a responsible man and also finds out the truth about his father when his father comes for his performance on the stage. He steps on the stage but instead he asks the audience to pray to god to give a minute of their lives to keep his father alive until his son's birth. His father is alive until his son is born and he names the baby boy 'Ishwar' after himself and he dies. The movie reaches its climax with Aditya welcoming children at his father's toy factory and playing with an alone, disabled boy like Ishwar did at the start of the film with his family there including his toddler Ishwar. The spirit of Ishwar touches Sumitra's flowers in her hair and it reminds her of the old times.