Khoya Khoya Chand is a chaotic love story between Nikhat and Zafar set against the persuasive world of cinema. Zafar Ali Naqvi (Shiney Ahuja) belongs to an old Nawab family based in Lucknow. And what more, he is rebellious writer full of new ideas. He comes down to Mumbai for making it big in big bad world of cinema for giving right direction to his creative streak. Before he knows it, gets sucked into glamorous cinematic world. Will he able to implement his ideas? And will he be able to cope up with this cinematic world? Just when he is getting his bearings right, he comes across Nikhat Bano (Soha Ali khan) - a beautiful young ambitious girl who makes impressive journey from being a struggling extra to a starlet to becoming a great heroine. But she has tough choices to make between ambitions and love. So what will she choose? What adds to her difficulty is Ratanbala, a reigning diva but very unpredictable. Nikhat has her own problems to deal with. Will her independent free spirit pull her through? Or will she dance to Zafars tunes? What more Prem Kumar (Rajat Kapoor), an ageing Casanova and master manipulator adds interesting twist to getting his fading stardom back?