In the good old days, formula films comprised of 6 songs, 7 action films, 5 blast and chase sequences, a few emotional moments, a couple of comic scenes and of course, the romantic portions. A paisa vasool entertainer was what the doctors prescribed for the ailing industry then.
Jai Veeru remains faithful to the formula, except that it borrows from a not-too-popular Hollywood film BULLETPROOF (1996; starring Damon Wayans and Adam Sandler).
After attempting a real-dark-grim film I - PROUD TO BE AN INDIAN, director Puneet Sira plays to the masses this time. With Jai Veeru, the target audience is not the thinking viewer, but those looking for a complete farce in terms of plotline.
Expectedly, Jai Veeru caters to the hardcore masses that are yet to embrace new-age cinema in this multiplex era.

But an unexpected twist changes everything. Jai and Veeru feel betrayed by the other. One person who hates them more than they hate each other is the ruthless gangster Tejpal (Arbaaz Khan), who wants to kill both of them. Jai and Veeru are on the run. Will they survive?

It's good in parts (a few twists if you haven't watched the Hollywood film). It's average in parts because the pace picks up and falls intermittently.
And it's pure bad because the writer, in an effort to pack just about everything, throws logic out of the window. The story jumps from one track to another, instead of sticking to the main plot.
Puneet Sira's direction is strictly okay. Bappa Lahiri's music is tuneful. A couple of tunes have the spark, especially 'Tenu Leke'. Cinematography (K. Rajkumar) is alright. The action scenes (Allan Amin) are top notch. The production values are tacky.

On the whole, Jai Veeru has something for the hardcore masses, but nothing for the elite/classes. Its business, therefore, will be restricted to the single screens, but multiplexes will be terrible.