At the first glance, 'Cheater' looks like any other con-film. A young conman and compulsive liar tries to find new ways of fooling people for personal gain. And as all con-films go, our very own hero too lands in trouble, courtesy his'dealings'.
Having folled almost everyone, from his friends to an aspiring politician, Abhay( Tatwawdi) is known across Pune as a cheater. His friends hide money fearing he would coax them into giving it to him with some excuse and his family is fed up of people complaining about him. Amidst all this, Abhay meets Mrudula( Sawant), a girl from Mauritius who is in India to study psychology and'get acquainted with Maharashtrian values' at the insistence of her grandmother, and falls for her. Due to his habit of lying though, he ends up convincing Mrudula that he's a PhD student and son of an industrialist.