Episode 2 of Mirzapur Season 3 kicks off with Valmiki, a contract killer employed by the cops, whose mission, as revealed in his conversation with Madhuri, is to eliminate Guddu and Golu. Concurrently, Sharad attempts to sow discord between Bharat and Guddu, accusing the latter of Bharat's twin brother's death. Bharat's father, Devdatt, questions Sharad's adamant desire to save Kaleen's life, given that Sharad's own father despised him. Sharad justifies his actions as a game of power, claiming that he needs Kaleen's backing to ascend the throne of Purvanchal. Devdatt reminds Sharad of the connection between Golu and the death of Bharat's twin, Shatrughan (Chotu). Unwavering, Sharad vows to eliminate both Guddu and Golu once they regain control in Mirzapur.
Outside the Tripathi residence, now Guddu's abode, Valmiki's henchmen set up a watchful perimeter. Inside, Golu confides in Beena that she believes Kaleen is alive and hiding behind Sharad's shadow. Guddu announces his intention to abstain from any further meetings with the underworld, citing his disrespectful treatment. Valmiki's thugs attempt a strike but halt their action upon spotting Beena. They tail Guddu and Golu, who visit an opium factory.
At the factory, Guddu meets the workforce engaged in the manufacture and trade of pistols. Meanwhile, Golu visits her college and recruits five young men for the factory. In prison, Ramakant suffers the same harsh treatment as his fellow inmates. There, he encounters Lala, who is accompanied by his lawyer and daughter, Shabnam. Lala's lawyer informs him that he cannot secure his bail due to Madhuri, the Chief Minister of Uttar Pradesh. Shabnam expresses remorse to her father for her involvement with Guddu and his circle, which led to his imprisonment.
At the Pandit house, Dimpy pleads with the judge overseeing her father's case to delay the hearing in hopes of facilitating Ramakant's release. Parshuram, Golu's father, inquiries about the nature of Golu and Guddu's relationship, to which Dimpy offers no definitive answer. Parshuram later visits the Tripathi residence to deliver documents pertaining to Kaleen's opium trade to Golu.
Golu discovers that J.P. Yadhav's entire opium empire is cloaked under Munna's name. Following Munna's demise, the lucrative fields seamlessly shifted to his wife, Madhuri. Beena, shrewd as ever, suggests that Guddu engage Shabnam to coax Lala into aiding their bid for power over Mirzapur through the opium trade.
That fateful night, Beena slyly instructs the maid to procure some opium, intending to drug her innocent baby. Meanwhile, Sharad encounters Lala in prison, promising to secure his release with Madhuri's assistance. Trusting Sharad's words, Lala dispatches an entire shipment of opium for Sharad to trade.
Elsewhere, Madhuri stands firm, confronting the State ministers, fighting tooth and nail to ensure the impoverished farmers are adequately funded for the year. She refuses to yield to the elderly ministers' demands or heed their orders. PA Anand informs Madhuri of Sharad's desire to meet her, but she remains steadfast in her refusal.
Concurrently, Valmiki instructs Dubey to arrange funds, harboring a sinister plan to strike at Guddu. Valmiki orchestrates a bodybuilding competition, cunningly having Lakha Pehelwan, the organizer, invite Guddu as the chief guest. Guddu agrees, but refuses to bring Golu as his protector. Golu, determined, ventures out to confront a politician named Satya, threatening him to find J.P. Yadhav for her.
Returning, Golu is delayed, missing the competition. Guddu, realizing her absence, decides to attend alone. To his dismay, he learns that Lakha Pehelwan had also invited a local movie star, Suttan Jha, as a co-chief guest. Unaware of Guddu's presence, Suttan arrives, attempting to intimidate him.
Backstage, Valmiki and his henchmen ready themselves to strike at Guddu, just before the winners are announced. One by one, they eliminate Guddu's guards. Meanwhile, Golu is trapped in a blockade, her father among the officers on duty. She pleads with her father to let her car through, rushing to ensure Guddu's safety.
On the flipside, Guddu engaged in a heated dispute with Suttan behind the scenes, only to have the latter belittle him as a nobody. Enraged, Guddu faced a barrage of attacks from Valmiki's henchmen. Despite the odds, Guddu maneuvered skillfully, managing to evade most strikes while firing back with all his might, miraculously eliminating most of Valmiki's thugs. Just as Valmiki prepared to strike, Golu appeared in her car, slamming him unconscious as he aimed his gun at her.
Realizing Valmiki was sent by the police, Guddu contemplated ending his life. But Suttan's sudden appearance halted his plans. Suttan apologized profusely for his ignorant scorn, unaware of Guddu's true identity. Unmoved, Guddu coldly shot Suttan with Valmiki's gun and then placed it in the lifeless Valmiki's hand.
News of Suttan's murder, carried out with a police weapon, spread like wildfire across U.P., igniting public outrage. Meanwhile, Guddu traversed Mirzapur, systematically shattering statues of Kaleen and his family members, amidst the public's chants of praise for Guddu. Madhuri too faced harsh criticism from the masses. The episode culminated with Kaleen awakening from his coma, greeted warmly by Devdutt.
