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The film opens with a ‘Manthravadi’ (Thilakan) an evil magician (Pithamagan Mahadevan) to obey to his commands and make spiriting away a friendly ghost money through crime. Meanwhile a group of kids and their benefactors are held hostage in a circus camp by the baddies, who has taken over the show. Ancy (Kaavyamadavan) is coming back from London, to take charge of the circus company founded by her father Philipose (Janardhanan),who was found murdered. On reaching there, she is told that her father was stabbed to death by a bike-jumper named Jimmy (Mammootty). In fact Jimmy, his foster father Krishnan (Innocent), aide Sisupalan (Suraj Venjarammood) and a gang of street children were all invited by Philipose to join his circus group. Meanwhile the ghost (Mammootty, in his other role) appears, becomes friendly with the kids and takes a more stylish shape of Jimmy. Thanks to the ghost, Ancy realizes that Jimmy was innocent in the whole issue. Now the battle between the good and evil.