After her early childhood in Hong Kong, her family moved to Bangkok and Neelam was holidaying in Mumbai and was approached by Ramesh Behl. She decided to give it a shot and did Jawaani in 1984 alongside Karan Shah (Tina Munim's nephew), but the film became a flop. She soldiered on ahead and became famous in 1986 in the film Ilzaam opposite another debutante Govinda. She went on to make a regular pairing with Govinda in movies such as Love 86 (1986), Khudgarz (1987), Hatya (1988), Taaqatwar (1989) and Do Qaidi (1989). She also Starred in the 1987 Hit film, Aag Hi Aag opposite Dharmendra and Chunkey Pandey and directed by Shibu Mitra
Since then she made many other movies in the late 1980s met with mixed success. She is also noted for her appearance in the 1998 movie Kuch Kuch Hota Hai where she appeared as herself in the movie playing a VJ. In 1999 she appeared in the multi-starrer family film Hum Saath-Saath Hain: We Stand United.
Her most recent release was Kasam in 2001.
Even while pursuing her career in acting, she was into jewellery designing and was involved in the family business. She did a formal course in Mumbai and after saying goodbye to films in 1999, she started her out commercially on her own under the name of Neelam Jewels. She opened her showroom in Mumbai in 2004 and has never looked back sinc