What does "Shree 420" means, actually?
(also have you noted the joke in the very beginning ? "If I'm a 420, then you are... you are..." and the number on the car is 840 :-) )
A great movie, too!
If by noise you mean uncomfortable sound, then pop music is noise to me. --- Masami Akita
Shree 420 just means Mr. 420. The significance is perhaps deducible from the references in the film. Article 420 was seemingly (and perhaps still is) the article in the Indian criminal code specifically aimed at confidence-tricksters (and I assume a recent addition in the fifties), hence 'a 420' came to be slang for a confidence-trickster. Note this is purely deduction on my part and I do not guarantee its accuracy.
I hadn't spotted the 840 though (probably on account of my virtual innumeracy). Thanks for that.