I am not going to waste too much time on reviewing this piece of crap, but just suffice it to say I have seen better directed Panchtantra Ki Kahaniyan.
The story is very simple, some students who can't get into any college, start a fake university to fool their parents. The premise is okay, but the implementation sucks big time. There is no common sense applied to any scenes, and these guys have never heard what logic is.
The only saving grace of the movie is Arshad Warsi, within the confines of the weak character created for him he has delivered very good performance. Ritesh is like andhon mein kaana raja among these unknown actors, but he has done ok. Boman Irani has disappointed but it's not his fault that he was given a 2-dimensional character. I had no hopes from Akbar Khan and that was a smart thing to do on my part.
Even the worst movies have at dialogue, one scene or one character that you remember. This one is an exception. It was an absolute waste of my time, but then I am smart, I watched while doing other things once I understood what it was like. But I wanted to let it run through to end to see what kind of twists they had planned.
The only good thing you can say about this movie is that it's consistent in its quality - it starts sucking right from the beginning and keeps sucking right till the end.
My advice to you would be not to touch it with a ten-foot pole but of course, it's ultimately up to you.