Padmashree Laloo Prasad Yadav revolves around four chracters- Padmashree, Laloo, Prasad, Yadav. This story centers around a woman named Padmashree Divakar Kashyap who along with her boyfriend, Lalchand Dilachand alias Laloo, is in search for some family diamonds that were reportedly stolen by a Mr. Saxena. While Laloo haphazardly questions a terrified Saxena with his cigarette-lighter pistol, Saxena dies of fright.
This leaves the duo no choice save to find out where the diamonds are on their very own, and this takes them to South Africa where they meet the third person of this title, namely Advocate Prasad Pritam Pradyuma, who is the legal counsel for gangster Johny, who is being held by the police as a suspect in a bank robbery. Then we get to meet the fourth person named Yadav, who is Johny's assistant, and when we put all four together we get the full title.
Watch how the foursome attempt to find the diamonds, and in the process tie themselves up in hilarious knots.