Former principal Dean Yogendra Vashisht (Rishi Kapoor) has aged and fallen ill. He desires to see the students from his last batch, who were part of the “Student of the Year” competition. Some former students arrive to the hospital to meet the Dean and talk about their regrets from ten years ago in college. They hold themselves responsible for the lively Dean having falling ill. The film then goes into a flashback set ten years back at the college.
The richest and most popular guy in the college, Rohan Nanda (Varun Dhawan), is the son of a huge business tycoon (Ram Kapoor). His father wants him to be a businessman like him and disagrees with his passion for music. Shanaya Singhania (Alia Bhatt),a fashion addict and the most popular girl in the campus is Rohan’s girlfriend. She is unsatisfied with her family, as her mother constantly divorces and marries rich men. Shanaya gets upset with Rohan’s regular flirting with Tanya (Sana Saeed), another student. Abhimanyu Singh (Sidharth Malhotra) arrives at the college and becomes the classy new heartthrob. Abhi becomes the most popular guy in the college. He plays the role of the perfect student and a perfect man. He is an orphan from a middle-class family, and lives with his aunt, uncle and grandmothers. His dream is to become a big business tycoon like Rohan’s father. Rohan and Abhimanyu argue at first but soon become best friends. Rohan introduces Shanaya to Abhimanyu, warning Abhimanyu not to get involved with her romantically.
Abhimanyu is invited to Rohan’s elder brother’s destination wedding in Thailand, which Shanaya and other rich family friends are attending as well. In Thailand, Shanaya sees Tanya and Rohan flirting again and gets even more upset when Rohan is rude to her and sides with Tanya. Abhimanyu tells her that they can teach Rohan to respect his girlfriend. At a party, Shanaya openly flirts with Abhimanyu, attempting to make Rohan jealous. The plan works but Rohan discovers she did this to get him back on track.