Varma (Raj Tilak) is an honest Minister whose main aim in life is to get rid of all its criminal elements & the prevalent corruption in the society.
Motiwala & Brothers (Shakti Kapoor, Mohan Joshi, Pramod Moutho) are a criminal outfit.
Varma joints their gang to unearth their criminal activities, but in the bargain, he is caught by them clicking their photographs for proof & is shot dead. While dying he tells them that his wife has all the proof & will tell the police.
The brothers confront his wife in the house. she has twin children (Mithun Chakravarty) . Along with his friend who has twin sons (Johny Lever). In they try to escape, but are shot at. Her friend dies. Motiwala throws the children away so as to kill them. The children survive but are separated.
Two of them (Heera 1 & Panna 1) are saved by policeman (Asrani) who rears them.
The other two (Heera 2 & Panna 2) are rescued by a good for nothing drunkard Tony Brazanza who rears them.
H1 P1 become police constables H2P2 become robbers like Tony Braganza.
H1 P1 fall in love with the police commissioners (Raju Kher) daughters & H2 P2 fall in love with Seth Maganlal's (Avan Varma) daughters.
The story takes an interesting turn when the Hawala Dairy of Motiwala & Brother comes in the hand of the police. H2 P2 get the dairy from the police custody. H1 P1 are blamed to it are jailed. As fate would have it Minister Varma's wife survives & is on the lookout for her children.
What happens then? Do the two separated twins meet ultimately? Does the mother ultimately meet her sons? Does Motiwalas recover his dairy?
The answer to all these questions is revealed in "HEERALAL-PANNALAL".
(From the official press booklet)