While they win the competition, they must make a number of compromises when signing the contract. This creates tension within the band. Joe feels the most slighted as his song is not included (making way for a remix of a random wedding song to capitalise on the upcoming "wedding season"). In addition, his girlfriend, Debbie (Shahana Goswami), an aspiring fashion designer, is rejected as the band's stylist. Later, when the cameramen focus solely on Aditya during the filming of the music video, Joe becomes furious and lashes out at Aditya before marching out of the studio with Debbie. Aditya, who had failed to notice anything was amiss, is shocked and decides to leave as well. He packs his stuff, writes a note breaking up with his girlfriend Tania (Nicolette Bird), and leaves for Delhi. "Magik" thus disbands and its members, once the closest of friends, become estranged from each other.
Ten years later, the four meet again through a series of coincidences. Aditya is now a high-powered executive with an investment banking firm. He has become cold and unfeeling. His wife Sakshi (Prachi Desai) feels hurt and confused by his behavior. Hoping to make him happy, she decides to plan a party for his birthday. While buying a watch, K.D. (who is now working for his father's jewellery business) overhears Sakshi talking about Aditya and wonders if it is his now estranged friend. He introduces himself and leaves his name with her. Sakshi later conveys the meeting to Aditya who denies knowing K.D. When Sakshi finds a box filled with "Magik" photos, she realizes Aditya was lying and invites K.D. to the birthday party.
K.D. meets up with Rob (who now makes a living composing jingles for advertisements) and they go together to invite Joe. Joe is largely unemployed, performing occasionally at weddings. He has an eight-year-old son, and the family is largely supported by Debbie, whom he has married, and who runs his family's fish business. Debbie (who still holds a grudge against the band for what she perceives as their ill-treatment of Joe) sends K.D. and Rob away and discourages Joe from staying in touch with them.
K.D. and Rob thus attend the party without Joe, greatly surprising Aditya who is shocked to see them there. Aditya is angered by their presence and chastises Sakshi for inviting them. She retorts by telling him that all she wanted was to see him happy, especially now that they are having a child . She leaves for her mother's house, saying that she cannot have a relationship anymore with a man who won't let her in. The next day, Aditya goes to Sakshi's friend, Devika (Koel Purie), for advice. She tells him to stop running away from his past, so he decides to meet his ex-bandmates at the basement. Joe is also there. He shakes hands with Aditya, wishes him a belated birthday and the band's differences seem to have been resolved. They start practising regularly at Aditya's house. Learning about this, Sakshi also returns home.
Soon, another contest hosted by Channel V is announced, and at Rob's insistence, they enter themselves. Debbie, who is adamant that Joe get a regular job, arranges for him a guitar-playing job on a cruise liner, but the ship is to sail on the same day as the contest. When it is discovered that Rob has a brain tumour and his last wish is to perform with "Magik" one last time, Joe's choice becomes very difficult. Debbie insists that he go for the job, especially as their financial situation is so bad and they have a son to bring up. The contest is aired on the radio, and while Joe is in the taxi on the way to the airport with his family, he hears "Magik" play the song he wrote for Debbie so long ago, and dedicate it to him. He leaves the taxi and goes to the concert, reaching just as the song ends. On seeing him, the band immediately perform another song, which turns out to be their last together onstage.
The short epilogue reveals that Sakshi gives birth to a baby boy, named "Rob" as a memorial to their friend who died two months after Magik's final performance. Devika is dating K.D., who starts a record company with Joe. Debbie becomes a successful stylist. The band members and their families meet at least once a week.
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