Tata Birla Madhyalo Laila is a comedy about two petty thieves Tata (Shivaji) and Birla (Krishna Bhagwan). The two thieves make a living by swindling the swindlers. They accidentally end up as hired killers to kill Mahalakshmi (Laya), an heiress to a rich empire of business and properties. They are hired by none other than Mahalakshmi's foster father Gajapati (Tanikela Bharini) who acts like a doting caretaker father. Tata, on the other hands, ends up falling in love with Mahalakshmi and so he and Birla continue working in the house under the pretext of killing her while their intentions are otherwise. The comical saga continues with Masthan (Ali) entering the house under the disguise of 'Laila' who was hired by Gajapati's rival to kill Mahalakshmi. The movie has a lot of bone tickling twists and turns and ends with Gajapati realizing his mistakes and for once takes up his responsibilities as a father.