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Maanav is a struggling filmmaker who does not want to compromise on his script. His girlfriend Ruchi is a successful film editor who arranges for him to meet Nitin, a producer. Nitin likes the script but is not very sure of its box office potential. Maanav then suggests a story from the Panchtantra: A woman is caught red-handed with her lover by her husband and yet, she manages to wriggle out of it scot-free!
Nitin loves the story but finds it too short for a feature film. Maanav then creates three more stories based on the same premise: in a way, the Panchantra story travels in different versions to the modern times through the film. The four stories are woven together by a common story. Mirch itself echoes this structure, with four stories mingling with the main narrative.