Shadow is the first movie in Bollywood industry where a blind actor working as an actor Arjun Sherawat (Nasir Khan). Sanjana Rajpoot (Sonali Kulkarni), a police officer is flummoxed. Six months after a serial murder case came to the police's notice, it is still unsolved. The serial murderer is still on the loose and claiming more victims. Arjun Sherawat (Nasir Khan) is the suspected murderer and a mystery. Sheetal (Hrishitaa Bhatt) is a press reporter and is passionate about her work. She knows the case inside out. Rahul (Milind Soman) is another reporter who is following this case closely but is oblivious to Sheetal's feelings for him. On a tip off from Sheetal, a man suspected to be the murderer, is shot dead. Even as they celebrate the news, Arjun Sherawat re-surfaces and tells the world that his next target is a builder Habeeb Fazal. As the narrative unravels it raises many questions. How is Sheetal getting the information on the victims? Is Arjun Sherwat committing these murders or does he have any accomplices? What is the reason behind these senseless murders? Is Rahul the bad guy? Will Sanjana outwit the murderer and bring an end to the bloodshed?