The films starts with Shah Rukh Khan as the narrator telling us briefly what the film is about. Silsillay means "affairs" and the film is basically about 3 women and their love lives or the complications of their love lives...

Zia (Bhumika Chawla) is an actress whose affair with her mentor Neil (Rahul Bose) is over (she was pressuring him to get her pregnant out of wedlock) and she's finding it hard to accept that he's moved on to another starlet. She gets him into bed one last time with an ulterior motive and also manages to deliver a video of his new girlfriend doing the dirty with another man.

Anushka (Riya Sen) works in an office and is admired and adored from afar by her colleague Tarun (Jimmy Shergil) but she's dating Nikhil (Ashmit Patel) whose sole intention seems to be to get her into bed, which she's not willing to do. Her flatmate keeps encouraging her to lose her virginity and "have fun" much to her disgust.

Rehana (Tabu) is a housewife whose husband Anwar (K K Menon) is having an affair with a sexy young air-hostess, Preiti (Celina Jaitley). Rehana's husband was a widower before he married her and his 16 year old son Inayat (Karan Panthakay) has a crush on and is obsessed with his beautiful and elegant step-mother to such an extent that he is making anonymous calls to her every five minutes!