Bhooloham is set in north Madras and revolves around the boxing community in the place. There are two warring boxing groups in the locality and Deepak Shah, a media moghul, hits upon the idea of holding a boxing championship by exploiting their rivalry. With his smooth operator ways, he has no difficulty in getting Bhooloham, a boxer seeking to avenge the loss of his late father in the ring, fight against Arumugham, whose father had defeated the former's father in the tournament. The hot-headed Bhooloham puts Arumugham in a critical condition by knocking him out in their match, but has a moment... Lue kokonaan.