Sivi is a remake of the Thai-thriller, Shutter. It begins when Krishna (Yogi) a young photographer and his girlfriend Sona (Jayashri Rao) accidentally run down a young woman on their drive home after a night's party on a deserted stretch of East Coast Road, near Chennai. They decide to leave the dead body and drive away. Later Krishana discovers something strange when he finds a mysterious shadow that appears on the pictures he takes with his camera.
He thinks that's just a bad picture, but then he realizes that there is something much more sinister behind the shadow on the picture frame and the extremely unsettling dreams. Unable to cope, they start investigating the phenomenon of the ghost appearing on the photographs, which leads to a discovery about Krishna's past, and a possible clue to the identity of their ghostly nemesis.