| Title of Invention | NOVEL BICYCLIC COMPOUNDS AND THEIR USE IN MEDICINE; PROCESS FOR THEIR PREPARATION AND PHARMACEUTICAL COMPOSITIONS CONTAINING THEM |
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| Abstract | The present invention relates to novel β-aryl-α-oxysubstituted propionicacids of the general formula (I) their tautomeric forms, their derivatives, their analogues, their stereoisomers, their polymorphs, their pharmaceutically acceptable salts, their pharmaceuticaly acceptable solvates and pharmaceuticaly acceptable composition containing them; methods for preparing them and their uses. |
| Full Text | Field of Invention The present invention relates to novel antiobesity and hypocholesterolemic compounds, their derivatives, their analogs, their tautomeric forms, their stereo-isomers, their polymorphs, their pharmaceutically acceptable salts, their pharma-ceutically acceptable solvates and pharmaceutically acceptable compositions containing them. More particularly, the present invention relates to novel p-aryl-a-oxysubstituted alkylcarboxylic acids of the general formula (I), their derivatives, their analogs, their tautomeric forms, their stereoisomers, their polymorphs, their pharma-ceutically acceptable salts, their pharmaceutically acceptable solvates and pharma-ceutically acceptable compositions containing them. The present invention also relates to a process for the preparation of the above said novel compounds, their analogs, their derivatives, their tautomeric forms, their stereoisomers, their polymorphs, their pharmaceutically acceptable salts, pharma ceutically acceptable solvates, novel intermediates and pharmaceutical compositions -^ containing them. The compounds of the present invention lower total cholesterol (TC); increase high density lipoprotein (HDL) and decrease low density lipoprotein (LDL), which have a beneficial effect on coronary heart disease and atherosclerosis. The compounds of general formula (I) are useful in reducing body weight and for the treatment and/or prophylaxis of diseases such as hypertension, coronary heart disease, atherosclerosis, stroke, peripheral vascular diseases and related disorders. These compounds are useful for the treatment of familial hypercholesterolemia, hypertriglyceridemia, lowering of atherogenic lipoproteins, VLDL (very low density lipoprotein) and LDL. The compounds of the present invention can be used for the treatment of certain renal diseases including glomerulonephritis, glomerulosclerosis, nephrotic syndrome, hypertensive nephrosclerosis, retinnopathy and nephropathy. The compounds of general formula (I) are also useful for the treatment and/or prophylaxis of insulin resistance (type IT diabetes), leptin resistance, impaired glucose tolerance, dyslipidrmia, disorders related to syndrome X such as hypertension, obesity, insulin resistance, coronary heart disease, and other cardiovascular disorders. These compounds may also be useful as aldose reductase inhibitors, for improving cognitive functions in dementia, treating diabetic complications, disorders related to endothelial cell activation, psoriasis, polycystic ovarian syndrome (PCOS) inflammatory bowel diseases, osteoporosis, myotonic dystrophy, pancreatitis, arteriosclerosis, xanthoma and for the treatment of cancer. The compounds of the present invention are useful in the treatment and/or prophylaxis of the above said diseases in combination/con-comittant with one or more HMG CoA reductase inhibitors and/or hypolipidemic/ hypolipoproteinemic agents such as fibric acid derivatives, nicotinic acid, cholestyr-amine, colestipol, or probucol. Background of Invention Atherosclerosis and other peripheral vascular diseases are the major causes effecting the quality of life of millions of people. Therefore, considerable attention has been directed towards understanding the etiology of hypercholesterolemia and hyper- lipidemia and development of effective therapeutic strategies. Hypercholesterolemia has been defined as plasma cholesterol level that exceeds arbitrarily defined value called "normal" level. Recently, it has been accepted that "ideal" plasma levels of cholesterol are much below the "normal" level of cholesterol in the general population and the risk of coronary artery disease (CAD) increases as cholesterol level rises above the "optimum" (or "ideal") value. There is clearly a definite cause and effect-relationship between hypercholesterolemia and CAD, particularly for individuals with multiple risk factors. Most of trie cholesterol is present in the esterified forms with various lipoproteins such as Low density lipo-protein (LDL), intermediate density lipoprotein (IDL), High density lipoprotein (HDL) and partially as Very low density lipoprotein (VLDL). Studies clearly indicate that there is an inverse correlationship between CAD and athero-sclerosis with serum HDL-cholesterol concentrations. ( Stampfer et al, N. Engl. J. Med., 325 (1991), 373-381) and the risk of CAD increases with increasing levels of LDL and VLDL. In CAD, generally "fatty streaks" in carotid, coronary and cerebral arteries, are found which are primarily free and esterified cholesterol. Miller et al, {Br. Med. J., 282 (1981), 1741 - 1744) have shown that increase in HDL-particles may decrease the number of sites of stenosis in coronary arteries of human, and high level of HDL-cholcstcrol may protect against the progression of atherosclerosis. Picardo et al, {Arteriosclerosis 6 (1986) 434 - 441) have shown by in vitro experiment that HDL is capable of removing cholesterol from cells. They suggest that HDL may deplete tissues of excess free cholesterol and transfer them to liver (Macikinnon et ai, J. Biol, client. 261 (1986), 2548 - 2552). Therefore, agents that increase HDL cholesterol would have therapeutic significance for the treatment of hypercholesterolemia and coronary heart diseases (CHD). , Obesity is a disease highly prevalent in affluent societies and in the developing world and is a major cause of morbidity and mortality. It is a state of excess body fat accumulation. The causes of obesity are unclear. It is believed to be of genetic origin or promoted by an interaction between the genotype and environment. Irrespective of the cause, the result is fat deposition due to imbalance between the energy intake versus energy expenditure. Dieting, exercise and appetite suppression have been a part of obesity treatment. There is a need for efficient therapy to fight this disease since it may lead to coronary heart disease, diabetes, stroke, hyperlipidemia, gout, osteo-arthritis, reduced fertility and many other psychological and social problems. Diabetes and insulin resistance is yet another disease which severely effects the quality of a large population in the world. Insulin resistance is the diminished ability of insulin to exert its biological action across a broad range of concentrations. In insulin resistance, the body secretes abnormally high amounts of insulin to compensate for this defect; failing which, the plasma glucose concentration inevitably rises and develops into diabetes. Among the developed countries, diabetes mellitus is a common problem and is associated with a variety of abnormalities including obesity, hypertension, hyperlipidemia (J. Clin. Invest., (1985) 75 : 809 - 817; N. Engl. J. Med. (1987) 317: 350-357; J. Clin. Endocrinol. Metab., (1988) 66 : 580 - 583; J. Clin. Invest., (1975) 68 : 957 -969) and other renal complications (See Patent Application No. WO 95/21608). It is now increasingly being recognized that insulin resistance and relative hyperinsulinemia have a contributory role in obesity, hypertension, atherosclerosis and type 2 diabetes mellitus. The association of insulin resistance with obesity, hypertension and angina has been described as a syndrome having insulin resistance as the central pathogenic link-Syndrome-X. Hyperlipidemia is the primary cause for cardiovascular (CVD) and other peripheral vascular diseases. High risk of CVD is related to the higher LDL (Low Density Lipoprotein) and VLDL (Very Low Density Lipoprotein) seen in hyper-lipidemia. Patients having glucose intolerance/insulin resistance in addition to hyper-lipidemia have higher risk of CVD. Numerous studies in the past have shown that lowering of plasma triglycerides and total cholesterol, in particular LDL and VLDL and increasing *HDL cholesterol help in preventing cardiovascular diseases. Peroxisome proliferator activated receptors (PPAR) are members of the nuclear receptor super family. The gamma (y) isoform of PPAR (PPARy) has been implicated in - regulating differentiation of adipocytes (Endo-crinology, (1994) 135: 798-800) and energy homeostasis (Cell, (1995) 83: 803-812), whereas the alpha (a) isoform of PPAR (PPARa) mediates fatty acid oxidation (Trend. Endocrin. Metab., (1993) 4: 291-296) thereby resulting in reduction of circulating free fatty acid in plasma (Current Biol. (1995) 5: 618 -621). PPARa agonists have been found useful for the treatment of obesity (WO 97/36579). It has been recently disclosed that there exists synergism for the molecules, which are agonists for both PPARa and PPARy and suggested to be useful for the treatment of syndrome X (WO 97/25042). Similar synergism between the insulin sensitizer (PPARy agonist) and HMG CoA reductase inhibitor has been observed which » may be useful for the treatment of atherosclerosis and xanthoma. (EP 0 753 298). It is known that PPARy plays an important role in adipocyte differentiation (Cell, (1996) 87, 377-389). Ligand activation of PPAR is sufficient to cause complete terminal differentiation (Cell, (1994) 79, 1147-1156) including cell cycle withdrawal. PPARy is consistently expressed in certain cells and activation of this nuclear receptor with PPARy agonists would stimulate the terminal differentiation of adipocyte precursors and cause morphological and molecular changes characteristics of a more differentiated, less malignant state (Molecular Cell, (1998), 465-470; Carcinogenesis, (1998), 1949-53; Proc. Natl. Acad. Sci., (1997) 94, 237-241) and inhibition of expression of prostate cancer tissue (Cancer Research (1998) 58:3344-3352) This would be useful in the treatment of certain types of cancer, which express PPARy and could lead to a quite nontoxic chemotherapy. Leptin resistance is a condition wherein the target cells are unable to respond to leptin signal. This may give rise to obesity due to excess food intake and reduced energy expenditure and cause impaired glucose tolerance, type 2 diabetes, cardio-vascular diseases and such other interrelated complications. Kallen et al (Proc. Natl. Acad. Sci. (1996) 93, 5793-5796) have reported that insulin sensitizers which perhaps due to the PPAR agonist expression and therefore lower plasma leptin concentrations. However, it has been recently disclosed that compounds having insulin sensitizing property also possess leptin sensitization activity. They lower the circulating plasma leptin concentrations by improving the target cell response to leptin (WO/98/02159). A few D-aryl-D-hydroxy propionic acids their derivatives and their analogs have been reported to be useful in the treatment of hyperglycemia and hyperchole-sterolemia. §ome of such compounds described in the prior art are outlined below: i) U.S. Pat. 5,306,726 WO 91/19702 disclose several 3-ary!-2- hydroxypropionic acid derivatives of general formulas (Ila) and (lib) as hypolipidemic and hypoglycemic agents. x-^. COY" (Ha) Z ^„^^ Examples of these compounds arc shown in formulas (II c) and (II d) COOH OEt BnO (lie) N" - O" ii) International Patent Applications, WO 95/03038 and WO 96/04260 disclose compounds of formula (II e) CH XOOH R^—N OCH2R (II e) wherein R^ represents 2- benzoxazolyl or 2-pyridyl and R^ represent CF3, CH2OCH3 or CH3. A typical example is (5)-3-[4-[2-[N-(2-benzoxazolyl)-N-methylamino] ethoxy]phenyl]-2-(2,2,2-trifluoroethoxy)propanoic acid (II 0- (Hf) iii) International Patent Application Nos. WO 94/13650, WO 94/01420 and WO 95/17394 disclose the compounds of general formula (II g) wherein A1 represents aromatic hcterocycle, A2 represents substituted benzene ring and A3 represents a moiety of formula (CH2)m-CH-(0R"), wherein R^ represents alkyl groups, m is an integer, X represents substituted or unsubstituted N; Y represents C=0 or C=S; R2 represents OR3 where R3 may be alkyl, aralkyl, or aryl group; n represents an integer in the range of 2-6. An example of these compounds is shown in formula (Ilh). »C02CH2CH3 V"3 r IT T --O" ^ -^ -OPh (II h) Summary of the Invention ^ With an objective to develop novel compounds for lowering cholesterol and reducing body weight with beneficial effects in the treatment and/or prophylaxis of diseases related to increased levels of lipids, athero-sclerosis, coronary artery diseases, Syndrome-X, impaired glucose tolerance, insulin resistance, insulin resistance leading to type 2 diabetes and diabetes complications thereof, for the treatment of diseases wherein insulin resistance is the pathophysiological mechanism, for the treatment of hypertension, atherosclerosis and coronary artery diseases with better efficacy, potency and lower toxicity, we focussed our research to develop new compounds effective in the treatment of the above mentioned diseases. Effort in this direction has led to compounds having general formula (I). The main objective of the present invention is therefore, to provide novel D-aryl- D-oxysubstituted alkylcarboxylic acids, their derivatives, their analogs, their tautomeric forms, their stereoisomers, their polymorphs, their pharmaceutically acceptable salts, their pharmaceutically acceptable solvates and pharmaceutical compositions containing them, or their mixtures. Another objective of the present invention is to provide novel D-aryl-D-oxysubstitutcd alkylcarboxylic acids, their derivatives, their analogs, their tautomeric forms, their stereoisomers, their polymorphs, their pharma-ceutically acceptable salts, their pharmaceutically acceptable solvates and pharmaceutical compositions containing them or their mixtures which may have agonist activity against PPARa and/or PPARy, 7 J and optionally inhibit HMG CoA reductase, in addition to having agonist activity against PPARa and/or PPARy. Another objective of the present invention is to provide novel O-aryl-Q-oxysubstituted alkylcarboxylic acids, their derivatives, their analogs, their tautomeric forms, their stereoisomers, their polymorphs, their pharma-ceutically acceptable salts, their pharmaceutically acceptable solvates and pharmaceutical compositions containing them or their mixtures having enhanced activities, without toxic effect or with reduced toxic effect. Yet another objective of the present invention is a process for the preparation of novel O-aryl-D-oxysubstituted alkylcarboxylic acids of formula (I), their derivatives, their analogs, their tautomeric forms, their stereoisomers, their polymorphs, their pharmaceutically acceptable salts and their pharma-ceutically acceptable solvates. Still another objective of the present invention is to provide pharma-ceutical compositions containing compounds of the general formula (I), their analogs, their derivatives, their tautomers, their stereoisomers, their poly-morphs, their salts, solvates or their mixtures in combination with suitable carriers, solvents, diluents and other media normally employed in preparing such compositions. Another objective of the present invention is to provide novel inter-mediates, a process for their preparation and use of the intermediates in processes for preparation of P-aryl-a-oxysubstituted alkyl carboxylic acids of formula (I), their derivatives, their analogs, their tautomers, their sterco-isomers, their polymorphs, their salts and their pharmaceutically acceptable solvates. Detailed Description of the Invention cc-Oxysubstituted propionic acids, their derivatives and their analogs of the present invention have the general formula (I) R6 where the groups Rl, R2, R3, R4, and the groups R5 and R6 when attached to a carbon atom, mry be same or different and represent hydrogen, halogen, hydroxy, nitro, cyano, formyl optionally substituted groups selected from alkyl, cycloalkyl, alko.iy, cycloalkoxy, aryl, aryloxy, aralkyl, aralkoxy, hctcro-cyclyl, heteroaryl, heteroaralkyl, hcteroaryloxy, heteroaralkoxy, acyl, acyloxy, hydroxyalkyl, amifio, acylamino, aikylamino, arylamino, aralkylamino, aminoalkyl, alkoxycarbonyl, aryloxycarbonyl, aralkoxycarbonyl, alkoxyalkyl, aryloxyalkyl, aralkoxyalkyl, alkylthio, thioalkyl, alkoxycarbonylamino, aryl-oxycarbonylamino, aralkoxycarbonylamino, carbroxylic acid or its derivatives, or sulfonic acid or its derivatives; one or both of R5 and R^ may also represent an oxo group when they are attached to a carbon atom; R5 and R6 when attached to a nitrogen atom represents hydrogen, hydroxy, formyl or optionally substituted groups selected from alkyl, cycloalkyl, alkoxy, cyclo-alkoxy, aryl, aralkyl, heterocyclyl, heteroaryl, heteroaralkyl, acyl, acyloxy, hydroxyalkyl, amino, acylamino, aikylamino, arylamino, aralkylamino, aminoalkyl, aryloxy, aralkoxy, heteroaryloxy, heteroaralkoxy, alkoxycarbonyl, aryloxycarbonyl, aralkoxycarbonyl, alkoxyalkyl, aryloxyalkyl, aralkoxyalkyl, alkylthio, thioalkyl groups, carboxylic acid derivatives, or sulfonic acid i derivatives; X represents a heteroatom selected from oxygen, sulfur or NR11 where Rn is selected from hydrogen or optionally substituted groups selected from alkyl, cycloalkyl, > aryl, aralkyl, acyl, alkoxycarbonyl, aryloxycarbonyl, or aralkoxycarbonyl groups; Ar represents an optionally substituted divalent single dr fused aromatic or heterocyclic group; R7 represents hydrogen atom, hydroxy, alkoxy, halogen, lower alkyl, optionally substituted aralkyl group or forms a bond together with the adjacent group R8; R8 represents hydrogen, hydroxy, alkoxy, halogen, lower alkyl group, acyl, or optionally substituted aralkyl or R8 forms a bond together with R7; R9 represents hydrogen, or optionally substituted groups selected from alkyl, cycloalkyl, aryl, aralkyl, alkoxyalkyl, alkoxycarbonyl, aryloxycarbonyl, alkylaminocarbonyl, aryl-aminocarbonyl, acyl, heterocyclyl, heteroaryl, or heteroaralkyl groups; R10 represents hydrogen or optionally substituted groups selected from alkyl, cycloalkyl, aryl, aralkyl, heterocyclyl, heteroaryl, or heteroaralkyl groups; Y represents oxygen or NR12, where R12 represents hydrogen, alkyl, aryl, hydroxyalkyl, aralkyl, heterocyclyl, heteroaryl, or heteroaralkyl groups; R10 and R12 together may form a 5 or 6 membered cyclic structure containing carbon atoms, which may optionally contain one or more heteroatoms selected from oxygen, sulfur or nitrogen; the linking group represented by -(CH2)n-(0)m- may be attached either through a nitrogen atom or a carbon atom; n is an integer ranging from 1-4 and m is an integer 0 or 1. Suitable groups represented by R1 - R4 and the groups R5 and R6 when attached to carbon a"om, may be selected from hydrogen, halogen atom such as fluorine, chlorine, .i i bromine, or iodine; hydroxy, cyano, nitro, formyl; substituted or unsubstituted (Q-C|2)alkyl group, especially, linear or branched (C1-C6)alkyl group, such as methyl, ethyl, n-propyl, isopropyl, n-butyl, iso-butyl, t-butyl, n-pentyl, iso-pentyl, hexyl and the like; cyclo(C3-C6)alkyl group such as cyclopropyl, cyclobutyl, cyclopentyl, cyclohexyl and the like, the cycloalkyl group may be substituted; cycIo(C3-C6)alkoxy group such as cyclopropyloxy, cyclobutyloxy, cyclopentyloxy, cyclohexyloxy and the like, the cycloalkoxy group may be substituted; aryl group such as phenyl or naphthyl, the aryl group may be substituted; aralkyl such as benzyl or phenethyl, C6H5CH2CH2CH2, naphthylmethyl and the like, the aralkyl group may be substituted and the substituted aralkyl is a group such as CH3C6H4CH2, Hal-C6H4CH2, CHjOCeJ^CJ^, CH3OC6H4CH2CH2 and the like; heteroaryl group such as pyridyl, thienyl, furyl, pyrrolyl, oxazolyl, thiazolyl, imidazolyl, oxadiazolyl, tetrazolyl, benzopyranyl, benzofuranyl and the like, the heteroaryl group may be substituted; heterocyclyl groups such as aziridinyl, pyrrolidinyl, morpholinyl, piperidinyl, piperazinyl and the like, the heterocyclyl group may be substituted; aralkoxy group such as benzyloxy, phenethyloxy, naphthylmcthyloxy, phenylpropyloxy and the like, the aralkoxy group may be substituted; hetcroaralkyl group such as furanmethyl, pyridinemethyl, oxazolemethyl, oxazolethyl and the like, the heteroaralkyl group may be substituted; aralkylamino group such as C6H3CH2NH, QH5CH2CH2NH, C6H5CH2NCH3 and the like, which may be substituted; alkoxycarbonyl such as methoxycarbonyl, cthoxycarbonyl and the like, which may be substituted; aryloxy-carbonyl group such as optionally substituted phenoxycarbonyl, laphthyloxycarbonyl and the like; aralkoxycarbonyl group such as bcnzyloxycarbonyl, phencthyl-oxycarbonyl, naphthylmethoxycarbonyl and the like, which may be iubstitutcd; (C1-C6)alkylamino group such as NHCH3, NHC2H5, NHC3H7> NHQ,H|3, and he like, which may be substituted; (C|-C6)dialkylamino group such as N(CH3)2, and the like, which may be substituted; alkoxyalkyl group such as ncthoxy-mcthyl, ethoxymcthyl, mclhoxycthyl, cthoxycthyl and the like, which may be iubstitutcd; aryloxyalkyl group such as C6H5OCH2, C6H5OCH2CH2, naphthyloxymcthyl md the like, which may be substituted; aralkoxyalkyl group such as C6H5CH2OCH2, U6H5CH2OCH2CH2 and the like, which may be substituted; heteroaryloxy and letcroaralkoxy, wherein heteroaryl moiety is as defined earlier and may be substituted; iryloxy group such as phenoxy, naphthyloxy and the like, the aryloxy group may |e iubstitutcd; arylamino group such as HNC6HS, NCH3(C6H5), NHC6H4CH3, NHC6H4-Hal md the like, which may be substituted; amino group which may be substituted; amino(C|- 1 C6)alkyl which may be substituted; hydroxy(C1-C6)alkyl which may be substituted; (Q- C6)alkoxy such as methoxy, ethoxy, propyloxy, butyloxy, iso-propyloxy and the like, which may be substituted; thio(C1-C6)alkyl which may be substituted; (C|-C6)alkylthio which may be substituted; acyl group such as acetyl, propionyl or benzoyl and the like, •the acyl group may be substituted; acylamino groups such as NHCOCH3, NHCOC2H5, NHCOC3H7, NHCOC6H5 and the like, which may be substituted; aralkoxycarbonylamino group such as NHCOOCH2C6H5, NHCOOCH2CH2C6H5, N(CH3)COOCH2C6H5, N(C2H5)COOCH2C6H5, NHCOOCH2C6H4CH3, NHCOOCH2C6H4OCH3 and the like, which may be substituted; aryloxycarbonylamino group such as NHCOOC6H5, NHCOOC6H5, NCH3COOC6H5, NC2H5COOC6H5, NHCOOC6H4CH3, NHCOOC6H4OCH3 and the like, which may be substituted; alkoxycarbonyl-amino group such as NHCOOC2H5, NHCOOCH3 and the like, which may be substituted; carboxylic acid or its derivatives such as amides, like CONH2, CONHMe, CONMe2, CONHEt, CONEt2, CONHPh and the like, the carboxylic acid derivatives may be substituted; acyloxy group such as OOCMc, OOCEt, OOCPh and the like, which may be substituted; sulfonic acid or its derivatives such as S02NH2, S02NHMe, S02NMe2, SO2NHCF3 and the like, the sulfonic acid derivatives may be substituted. One or both of R5 and R6 may also represent an oxo group. When the groups represented by R1 - R4 and the groups R5 and R6 when attached to carbon atom are substituted, the substitucnts may be selected from halogen, hydroxy, or nitro or optionally substituted groups selected from alkyl, cycloalkyl, alkoxy, cycloalkoxy, aralkoxy, aryl, aralkyl, aralkoxyalkyl, heterocyclyl, hetcroaryl, hetcroaralkyl, acyl, acyloxy, hydroxyalkyl, amino, acylamino, arylamino, aminoalkyl, aryloxy, alkoxycarbonyl, alkylamino, alkoxyalkyl, alkylthio, thioalkyl groups, carboxylic acid or its derivatives, or sulfonic acid or its derivatives . It is preferred that the substitucnts on R1 - R6 represent halogen atom such as fluorine, chlorine, bromine; alkyl group such as methyl, ethyl, iso-propyl, n-propyl, n-butyl; cycloalkyl group such as cyclopropyl; aryl group such as phenyl; aralkyl group such as benzyl; (C1-C3)alkoxy, benzyloxy, hydroxy group, acyl or acyloxy groups. Suitable R5 and R6 when attached to nitrogen atom is selected from hydrogen, hydroxy, formyl; substituted or unsubstituted (C|-C12)alkyl group, especially, linear or branched (C|-C6)alkyl group, such as methyl, ethyl, n-propyl, isopropyl, n-butyl, iso-butyl, t-butyl, n-pentyl, isopentyl, hexyl and the like; cyclo(C3-C6)alkyl group such as cyclopropyl, cyclobutyl, cyclopentyl, cyclohexyl and the like, the cycloalkyl group may be substituted; cyclo(C3-C6)alkyloxy group such as cyclopropyloxy, cyclobutyloxy, cyclopentyloxy, cyclohexyloxy and the like, the cycloalkoxy group may be substituted; aryl group such as phenyl, naphthyl and the like, the aryl group may be substituted; aralkyl such as benzyl or phenethyl, C6H5CH2CH2CH2, naphlhylmethyl and the like, the aralkyl group may be substituted and the substituted aralkyl is a group such as CH3C6H4CH2, Hal-C6H4CH2, CH3OC6H4CH2, CH3OC6UACE2CU2 and the like; hctcroaryl group such as pyridyl, thicnyl, furyl, pyrrolyl, oxazolyl, thiazolyl, imidazolyl, oxadiazolyl, tetrazolyl, benzo-pyranyl, benzofuranyl and the like, the heteroaryl group may be substituted; heterocyclyl groups such as aziridinyl, pyrrolidinyl, morpholinyl, pipcridinyl, pipcrazinyl and the like, the hclcrocyclyl group may be substituted; aralkoxy group such as bcnzyloxy, phcnethyloxy, naphthylmethyloxy, phenylpropyloxy and the like, the aralkoxy group may be substiluted; hetcroaralkyl group such as furanmethyl, pyridincmcthyl, oxazolcmcthyl, oxazolcthyl and the like, the hetcroaralkyl group may be substituted; aralkylamino group such as C6H5CH2NH, C6H5CH2CH2NH, C6H5CH2NCH3 and the like, which may be substituted; alkoxycarbonyl such as methoxycarbonyl, cthoxycarbonyl and the like, which may be substituted; aryloxycarbonyl group such as optionally substituted phenoxycarbonyl, naphthyloxycarbonyl and the like; aralkoxy-carbonyl group such as bcnzyloxycarbonyl, phenethyloxycarbonyl, naphthyl-melhoxycarbonyl and the like, which may be substituted; (C|-Cf,)alkylamino group such as NHCH3, N(CH3)2, NCH3(C2H5), NHC2H5, NHC3H7, NHC«H,3 and the like, which may be substituted; alkoxyalkyl group such as methoxy-methyl, ethoxymethyl, methoxyethyl, cthoxycthyl and the like, which may be substituted; aryloxyalkyl group such as C6H5OCH2, C6H5OCH2CH2, naphthyloxymcthyl and the like, which may be substituted; aralkoxyalkyl group such as C6H5CH2OCH2, C6H5CH2OCH2CH2 and the like, which may be substituted; hcteroaryloxy and hctcroaralkoxy, wherein heteroaryl moiety is as defined earlier and may be substituted; aryloxy group such as phenoxy, naphthyloxy and the like, the aryloxy group may be substituted; arylamino group such as HNC6H5, NCIljCCr.Hs), NHC6H4CH3, NHC6H4-Hal and the like, which may be substituted; amino group which may be substituted; amino(C1-C6)alkyl which may be substituted; hydroxy(C1-C6)alkyl which may be substituted; (C1-C6)alkoxy such as methoxy, ethoxy, propyloxy, butyloxy, iso-propyloxy and the like, which may be substituted; thio(C1-C6)alkyl which may be substituted; (C1-C6)alkylthio which may be substituted; acyl group such as acetyl, propionyl, benzoyl and the like, the acyl group may be substituted; acylamino groups such as NHCOCH3, NHCOC2H5, NHCOC3H7, NHCOC6H5 and the like, which may be substituted; carboxylic acid derivatives such as amides, like CONH2, CONHMe, CONMe2, CONHEt, CONEt2, CONHPh and the like, the carboxylic acid derivatives may be substituted; acyloxy group such as OOCMe, OOCEt, OOCPh and the like, which may be substituted; sulfonic acid derivatives such as S02NH2, S02NHMe, S02NMe2, S02NHCF3 and the like, the sulfonic acid derivatives may be substituted. When the groups represented by R5 and R6 attached to nitrogen are substituted, preferred substitucnts may be selected from halogen such as fluorine, chlorine; hydroxy, acyl, acyloxy, or amino groups. Suitable X includes oxygen, sulfur or a group NR11 as defined above, preferably oxygen and sulfur. Suitably R11 represent hydrogen, (C|-C6)alkyl, (QrC6)cycloalky1, aryl group such as phenyl or naphthyl, aralkyl group such as benzyl or phenethyl; acyl group such as acetyl, propanoyl, butyroyl, benzoyl and the like; (C|-C6)alkoxycarbonyl; aryloxycarbonyl such as phenoxycarbonyl, CHJOC6H4OCO, Hal-ColUOCO, CH31C6H4OCO, naphthyloxycarbonyl and the like; aralkoxycarbonyl such as benzyl-oxycarbonyl, phenethyloxycarbonyl and the like; the groups represented by R11 may be substituted or unsubstituted. When the groups represented by Rn are substituted, the substitucnts may be selected from halogen, optionally halogenated lower alkyl, hydroxy, and optionally halogenated (C|-C3)alkoxy groups. It is preferred that the group represented by Ar be substituted or unsubstituted groups selected from divalent phenylcne, naphthylene, pyridyl, quinolinyl, benzofuranyl, Jihydrobenzofuryl, benzopyranyl, dihydrobenzo-pyranyl, indolyl, indolinyl, azaindolyl, izaindolinyl, pyrazolyl, benzothiazolyl, bcnzoxazolyl and the like. The substituents on he group represented by Ar may be selected from linear or branched optionally lalogenated (C1-Cfi)alkyl, optionally halogenated (Q-C3)alkoxy, halogen, acyl, amino, icylamino, thio or carboxylic or sulfonic acids and their derivatives. It is more preferred that Ar represents a substituted or unsubstituted divalent, jhenylene, naphthylene, benzofuranyl, indolyl, indolinyl, quinolinyl, azaindolyl, izaindolinyl, benzothiazolyl or benzoxazolyl groups. It is still more preferred that Ar is represented by divalent phenylene or benzofuranyl, which may be optionally substituted by methyl, halomethyl, methoxy or halomethoxy groups. Suitable R7 includes hydrogen, lower alkyl groups such as methyl, ethyl or propyl; hydroxy, (C1-C3)alkoxy; halogen atom such as fluorine, chlorine, bromine, iodine; arall yl such as benzyl, phcnclhyl, which may be optionally substituted or R7 together with R8 represents a bond. Q Suitable R may be hydrogen, lower alkyl groups such as methyl, ethyl or propyl; hydroxy, (C1-C6)alkoxy; halogen atom such as fluorine, chlorine, bromine, iodine; acyl group such as linear or branched (C2-Cw)acyl group such as acetyl, propanoyl, butanoyl, pcntanoyl, benzoyl and the like; aralkyl such as benzyl, phenethyl, which may be optionally substituted or together with R7 forms a bond. Suitable groups represented by R may be selected from hydrogen, linear or branched (C|-C|6)alkyl, preferably (C|-Ci2)alkyl group such as methyl, ethyl, n-propyl, iso-propyl, n-butyl, iso-butyl, pentyl, hcxyl, octyl and the like; (C3-C7)cycloalkyl group such as cyclopropyl, cyclobutyl, cyclopcntyl, cyclohexyl, and the like, the cycloalkyl group may be substituted; aryl group such as phenyl, naphthyl, the aryl group may be substituted; hctcroaryl group such as pyridyl, thicnyl, furyl and the like, the hctcroaryl group may be substituted; hcteroaralkyl group such as furanmethyl, pyridinemethyl, oxazol-emcthyl, oxazolcthyl and the like, the hcteroaralkyl group may be substituted; aralkyl group such as benzyl and phenethyl and the like, wherein the alkyl moiety may contain C1-C6 atoms, wherein the aryl moiety may be substituted; heterocyclyl group such as aziridinyl, pyrrolidinyl, piperidinyl and the like, the heterocyclyl group may be substituted; (C1-C6)alkoxy(C1-C6)alkyl group such as methoxymethyl, ethoxymethyl, mcthoxyethyl, ethoxypropyl and the like, the alkoxyalkyl group may be substituted; linear or branched (C2-Ci6)acyl group such as acetyl, propanoyl, butanoyl, benzoyl, octanoyl, decanoyi and the like, which may be substituted; (Q-C6)alkoxycarbonyl, the alkyl group may be substituted; aryloxycarbonyl such as phenoxycarbonyl, naphthyloxy-carbonyl and the like, the aryl group may be substituted; (C1-C6)alkylamino-carbonyl, the alkyl group may be substituted; arylaminocarbonyl such as PhNHCO, naphthylaminocarbonyl and the like, the aryl moiety may be substituted. The substituents may be selected from halogen, hydroxy, or nitro or optionally substituted groups selected from alkyl, cycloalkyl, alkoxy, cyclo-alkoxy, aryl, aralkyl, aralkoxyalkyl, heterocyclyl, heteroaryl, heteroaralkyl, acyl, acyloxy, hydroxyalkyl, amino, acylamino, arylamino, aminoalkyl, aryl-oxy, alkoxycarbonyl, alkylamino, alkoxyalkyl, alkylthio, thioalkyl groups, carboxylic acid or its derivatives, or sulfonic acid or its derivatives . Suitable groups represented by R10 may be selected from hydrogen, linear or branched (C|-Cir,)alkyl, preferably (C1-C)2)alkyl group such as methyl, ethyl, n-propyl, iso-propyl, n-butyl, iso-butyl, pentyl, hcxyl, octyl and the like; (C3-C7)cycloalkyl such as cyclopropyl, cyclopenlyl, cyclohexyl and the like, the cycloalkyl group may be substituted; aryl group such as phenyl, naphthyl and the like, the aryl group may be substituted; hcteroaryl group such as pyridyl, thienyl, furyl and the like, the heteroaryl group may be substituted; hcteroaralkyl group such as furanmethyl, pyridinemcthyl, oxazolemethyl, oxazolcthyl and the like, the heteroaralkyl group may be substituted; aralkyl group such as benzyl and phencthyl and the like, the aralkyl group may be substituted; and heterocyclyl group such as aziridinyl, pyrrolidinyl, piperidinyl and the like, the heterocyclyl group may be substituted. The substituents on R10 may be selected from the same group of R"-R6. Suitable groups represented by R12 may be selected from hydrogen, linear or branched (Ci-Ci6)alkyl, preferably (Ci-Ci2)alkyl; hydroxy (Ci-C6)alkyl; aryl group such as phenyl, naphthyl and the like; aralkyl group such as benzyl, phenethyl and the like; heterocyclyl group such as aziridinyl, pyrrolidinyl, piperidinyl, and the like; heteroaryl group such as pyridyl, thienyl, furyl and the like; and heteroaralkyl group such as furanmethyl, pyridinemethyl, oxazolemethyl, oxazolcthyl and the like. Suitable ring structures formed by R10 and R12 together may be selected from pyrrolidinyl, piperidinyl, morpholinyl, piperazinyl and the like. Suitable m is an integer ranging from 0-1. It is preferred that when m = 0, Ar represents a divalent benzofuranyl, bcnzoxazolyl, benzothiazolyl, indolyl, indolinyl, dihydrobenzofuryl, or dihydrobenzopyranyl group and when m = 1, Ar represents a be substituted or unsubstitulcd groups selected from divalent phcnylcnc, naphlhylene, pyridyl, quinolinyl, benzofuranyl, dihydrobenzofuryl, benzopyranyl, dihydrobenzopyranyl, indolyl, indolinyl, azaindolyl, azaindolinyl, pyrazolyl, benzothiazolyl, bcnzoxazolyl and the like. Suitable n is an integer ranging from 1 to 4, preferably n represents an integer 1 or 2. It is preferred that when m = 1, n represents 2. It is also preferred that when m = 0, n represents 1. Pharmaceutically acceptable salts forming part of this invention include salts of the carboxylic acid moiety such as alkali metal salts like Li, Na, and K salts, alkaline earth metal salts like Ca and Mg salts, salts of organic bases such as lysine, aFgininc, guanidinc, dicthanolaminc, choline and the like, ammonium or substituted ammonium salts, am. aluminum salts. Salts may include acid addition salts where appropriate which are, sulphates, nitrates, phosphates, perchlorates, borates, hydrohalides, acetates, tartrates, maleates, citrates, succinates, palmoalcs, methanesulphonates, benzoates, salicylates, hydroxynaphthoates, benzenesulfonates, ascorbates, glycerophosphates, ketoglutarates and the like. Pharmaceutically acceptable solvates may be hydrates or comprising other solvents of crystallization such as alcohols. Particularly useful compounds according to the present invention include : Ethyl (E/Z)-3-[4-[2-(2,3-dihydro-l,4-benzoxazin-4-yl)ethoxy]phenyl]-2-ethoxypropenoate; (+) Methyl 3-[4-[2-(2,3-dihydro-l ,4-benzoxazin-4-yl)ethoxyJphenyl]-2-ethoxypropanoate; (+) Methyl 3-[4-[2-(2,3-dihydro-l ,4-benzoxazin-4-yl)ethoxy]phenyl]-2-ethoxypropanoate; (-) Methyl 3-[4-[2-(2,3-dihydro-1,4-benzoxazin-4-yl)ethoxy]phenyl]-2-ethoxypropanoate; Ethyl (E/Z)-3-[2-(2,3-dihydro-l,4-benzoxazin-4-yl)methylbenzpfuran-5-yl]-2-ethoxypropenoate; Ethyl (E/Z)-3-[4-[2-(2,3-dihydro-l,4-benzothiazin-4-yl)ethoxy]phenyl]-2-ethoxypropenoate; (+) Methyl 3-[2-(2,3-dihydro-l,4-benzoxazin-4-yl)methylbenzofuran-5-yl]-2-ethoxypropanoate; (+) Methyl 3-[2-(2,3-dihydro-1,4-benzoxazin-4-yl)methylbenzofuran-5-yl]-2-ethoxypropanoate; (-) Methyl 3-[2-(2,3-dihydro-l ,4-benzoxazin-4-yl)methylbenzofuran-5-yl]-2-ethoxypropanoate; (+)Methyl-3-[4-[2-(2,3-dihydro-l,4-benzolhiazin-4-yl)ethoxy]phenyl]-2-ethoxypropanoate; (+) Mcthyl-3-[4-[2-(2,3-dihydro-l,4-bcnzothiazin-4-yl)cthoxy]phenyl]-2-cthoxypropanoatc; (-)Mcthyl-3-[4-[2-(2,3-dihydro-l,4-bcnzothiazin-4-yl)ethoxy]phenyl]-2-ethoxypropanoate; (+) Methyl 2-methyl-3-[4-[2-(2,3-dihydro-1,4-bcnzoxazin-4-yl)ethoxy]phenyl]-2-cthoxy propanoatc; (+) Methyl 2-methyl-3-[4-[2-(2,3-dihydro-l ,4-benzoxazin-4-yl)ethoxy]phenyl]-2-ethoxy propanoatc; (-) Methyl 2-mclhyl-3-[4-[2-(2,3-dihydro-l ,4-bcnzoxazin-4-yl)cthoxy]phenyl]-2-cthoxy propanoatc; (+) Methyl 2-(2-nuorobcnzyl)-3-[4-[2-(2(3-(lihydro-l,4-benzoxazin-4-yl)ethoxy]phenyl]-2-ethoxypropanoatc; (+) Methyl 2-(2-fluorobenzyl)-3-[4-[2-(2,3-dihydro-l,4-benzoxazin-4-yl)ethoxy]phcnyl]-2 -ethoxypropanoate; (-) Methyl 2-(2-fluorobenzyl)-3-[4-[2-(2,3-dihydro-l,4-benzoxazin-4-yl)cthoxy]phcnyl]-2 ethoxypropanoate; Ethyl (E/Z)-3-[4-[2-(3-oxo-2H-l ,4-benzoxazin-4-yl)ethoxy]phenyl]-2-ethoxy propenoate; (+) Methyl 3-[4-[2-(3-oxo-2H-l,4-benzoxazin-4-yl)ethoxy]phenyl]-2- ethoxypropanoate; (+) Methyl 3-[4-[2-(3-oxo-2H-1,4-benzoxazin-4-yl)cthoxy]phenyl]-2-ethoxypropanoatc, (-) Methvl 3-[4-[2-(3-oxo-2H-1,4-benzoxazin-4-yl)ethoxy]phenyl]-2-ethoxypropanoate, Ethyl (E/Z)-3-[6-[2-(2,3-dihydro-1,4-benzothiazin-4-yl)cthoxy]naphthyl]-2-ethoxypropenoate; (+) Methyl 3-[6-[2-(2,3-dihydro-l ,4-bcnzolhiazin-4-yl)ethoxy]naphthyI]-2-ethoxy propanoate; (+) Methyl 3-[6-[2-(2,3-dihydro-l ,4-benzothiazin-4-yl)ethoxy]naphthyl]-2-ethoxy propanoate; (-) Methyl 3-[6-[2-(2,3-dihydro-l,4-benzothiazin-4-yl)ethoxy]naphthyl]-2-ethoxy propanoate; Ethyl 3-[4-[2-(2,3-dihydro-1,4-benzoxazin-4-yl)ethoxy]phcnyl]-2-hydroxypropanoatc; Ethyl 3-[4-[2-(2,3-dihydro-1,4-benzothiazin-4-yl)ethoxy]phenyl]-2-hydroxypropanoate; Ethyl 3-[4-[2-(2,3-dihy(lro-l,4-bci)/.oxn/in-4-yl)cthoxy]phcnyl]-2- bcnzyloxy-propanoatc; Ethyl 3-[4-[2-(2,3-dihydro-l,4-bcnzoxazin-4-yl)ethoxy]phcnyl]-2-butoxypropanoate; Ethyl 3-[4-[2-(2,3-dihydro-1,4-bcnzoxazin-4-yl)ethoxy]phenyl]-2-hcxyloxy propanoate; Ethyl (E/Z)-3-[4-[2-(2,3-dihydro-l,4-bcnzoxazin-4-yl)ethoxy]phcnyl]-2-phenoxy-propcnoatc; (+) Methyl 3-[4-[2-(2,3-dihydro-l ,4-benzoxazin-4-yl)ethoxy]phenyl]-2- phenoxy-propanoate; (+) Methyl 3-[4-[2-(2,3-dihydro-l,4-benzoxazin-4-yl)ethoxy]phenyl]-2-phenoxy- propanoate; (-) Methyl 3-[4-[2-(2,3-dihydro-l,4-benzoxazin-4-yl)ethoxyJphcnyl]-2-phcnoxy- propanoate; Ethyl (E/Z)-3-[4-[2-(2,3-dihydro-l,4-bcnzothiazin-4-yl)ethoxy]phenyl]-2-phenoxy-propenoate; (+) Methyl 3-[4-[2-(2,3-dihydro-l,4-bcnzothiazin-4-yl)ethoxy]phenyl]-2-phenoxy- propanoate; (+) Methyl 3-[4-[2-(2,3-dihydro-l,4-benzothiazin-4-yl)ethoxy]phcnyl]-2-phenoxy-propanoate; (-) Methyl 3-[4-[2-(2,3-dihydro-l,4-bcnzothiazin-4-yl)ethoxy]phenylJ-2-phcnoxy- propanoate; Ethyl (E/Z)-3-[4-(4-methyl-3,4-dihydro-2H-l,4-benzoxazin-2-yl)methoxyphenyl]-2-ethoxy propenoate; (+) Methyl 3-[4-(4-methyl-3,4-dihydro-2H-l,4-benzoxazin-2-yl)methoxyphenyl]- 2-ethoxypropanoate; (+) Methyl 3-[4-(4-methyl-3,4-dihydro-2H-l,4-benzoxazin-2-yl)methoxyphenyl]- 2-ethoxypropanoate; (-) Methyl 3-[4-(4-methyl-3,4-dihydro-2H-l ,4-benzoxazin-2-yl)methoxyphenyl]-2-ethoxy propanoate; Ethyl (E/Z)-3-[4-(4-benzyl-3,4-dihydro-2H-l,4-benzoxazin-2-yl)methoxyphenyl]-2-ethoxy propenoate; (+) Methyl 3-[4-(4-benzyl-3,4-dihydro-2H-l ,4-benzoxazin-2-yl)methoxyphenyl]-2-ethoxy propanoate; (+) Methyl 3-[4-(4-benzyl-3,4-dihydro-2H-l ,4-bcnzoxazin-2-yI)methoxyphenyl]-2-ethoxy propanoate; (-) Methyl 3-[4-(4-bcnzyl-3,4-dihydro-2H-l ,4-bcnzoxazin-2-yl)mcthoxyphenyl]-2-cthoxy propanoate; (+)3-[4-[2-(2,3-Dihydro-l,4-benzoxazin-4-yl)ethoxy]phenyl]-2-ethoxypropanoic acid and its salts; (+) 3-[4-[2-(2,3-Dihydro-1,4-benzoxa7.in-4-yl)cthoxy]phcnyl]-2-ethoxypropanoic acid and its salts; (-) 3-[4-[2-(2,3-Dihydro-l,4-bcnzoxazin-4-yl)cthoxy]phenyl]-2-cthoxy-propanoic a"cid and its salts; (+) 3-[2-(2,3-Dihydro-l,4-benzoxazin-4-yl)mcthylbenzofuran-5-yl]-2-ethoxypropanoic acid and its salts; (+) 3-[2-(2,3-Dihydro-l,4-bcnzoxazin-4-yI)mcthylbcnzofuran-5-yl]-2-ethoxypropanoic acid and its salts; (-) 3-[2-(2,3-Dihydro-l,4-benzoxazin-4-yl)methylbenzofuran-5-yl]-2-ethoxypropanoic acid and its salts; (+)3-[2-(2,3-Dihydro-l,4-benzothiazin-4-yl)methylbenzofuran-5-yl]-2-ethoxy-propanoicacid and its salts; (+) 3-[2-(2,3-Dihydro-l,4-benzothiazin-4-yl)methylbcnzofuran-5-yl]-2-ethoxy-propanoic acid and its salts; (-) 3-[2-(2,3-Dihydro-l ,4-benzothiazin-4-yl)methylbenzofuran-5-yl]-2-ethoxy-propanoic acid and its salts; (+) 3-[4-[2-(2,3-Dihydro-l ,4-benzothiazin-4-yl)ethoxy]phenyl]-2-ethoxypropanoic acid its salts; (+) 3-[4-[2-(2,3-Dihydro-l,4-benzothiazin-4-yl)ethoxy]phenyl]-|-ethoxypropanoic acid and its salts; ?;; (-) 3-[4-[2-(2,3-Dihydro-l,4-benzothiazin-4-yl)ethoxy]phenyl]-2-cthoxypropanoic acid and its salts; (+) 3-[4-[2-(2,3-Dihydro-l,4-benzothiazin-4-yl)ethoxy]phenyl]-2-ethoxypropanamide; (+)3-[4-[2-(2,3-Dihydro-l,4-benzothiazin-4-yl)ethoxy]phenyl]-2-ethoxypropanamide; (.) 3-[4-[2-(2,3-Dihydro-1,4-benzothiazin-4-yl)ethoxy]phenyl]-2-ethoxypropanamide; (+)N-Methyl-3-[4-[2-(2,3-dihydro-l,4-benzothiazin-4-yl)ethoxy]phenyl]-2-ethoxy-propanamide; (+)N-Mcthyl-3-[4-[2-(2,3-dihydro-l,4-bcnzothiazin-4-yl)cthoxy]phenylJ-2-ethoxy-propanamide; (-) N-Mcthyl-3-[4-[2-(2,3-dihydro-1,4-benzothiazin-4-yl)ethoxy]phenyl]-2-ethoxy-propanamide; (+)3-[4-[2-(2,3-Dihydro-l,4-benzoxazin-4-yl)ethoxy]phenyl]-2-ethoxypropanamide; (+) 3-[4-[2-(2,3-Dihydro-1,4-benzoxazin-4-yl)cthoxy]phcnyl]-2-cthoxypropanamide; (.)3-[4.[2-(2,3-Dihydro-l,4-bcnzoxazin-4-yl)ethoxy]phenyl]-2-ethoxypropanamide; (+) N-Mcthyl-3-[4-[2-(2,3-dihydro-l ,4-bcnzoxazin-4-yl)cthoxy]phcnyl]-2-ethoxy-propanamidc; (+)N-Mcthyl-3-[4-[2-(2,3-dihydro-l,4-bcnzoxazin-4-yl)clhoxy]phcnyl]-2-ctlioxy-propanamide; (-) N-Methyl-3-[4-[2-(2,3-dihydro-1,4-benzoxazin-4-yl)ethoxy]phenyl]-2-ethoxy-propanamide; (+)N-Benzyl-3-[4-[2-(2,3-dihydro-l,4-bcnzoxazin-4-yl)cthoxy]phenyl]-2-ethoxy-propanamide; (+)N-Benzyl-3-[4-[2-(2,3-dihydro-l,4-bcnzoxazin-4-yl)ethoxy]phenyl]-2-ethoxy-propanamide; (-)N-Bcnzy1-3-[4-[2-(2,3-dihydro-1,4-bcnzoxazin-4-yl)cthoxy]phcnyl]-2-cthoxy-propanamide; (+) N-Benzyl-3-[4-[2-(2,3-dihydro-1,4-bcnzothiazin-4-yl)ethoxy]phenyl]-2-elhoxy-propanamide; (+) N-Benzyl-3-[4-[2-(2,3-dihydro-1,4-benzothiazin-4-yl)ethoxy]phenyI]-2-ethoxy-propanamide; (-)N-Benzyl-3-[4-[2-(2,3-dihydro-l,4-bcnzothiazin-4-yl)ethoxy]phenyl]-2-ethoxy-propanamide; 2-Methyl-3-[4-[2-(2,3-dihydro-l,4-benzoxazin-4-yl)ethoxy]phenyl]-2-ethoxy-propanoicacid and its salts; 2-(2-Fluorobenzyl)-3-[4-[2-(2,3-dihydro-l,4-benzoxazin-4-yI)ethoxy]phenyl]-2-ethoxypropanoic acid and its salts; (+) 3-[4-[2-(3-Oxo-2H-l,4-bcnzoxazin-4-yl)ethoxy]phenyl]-2-ethoxypropanoic acid and its salts; (+) 3-[4-[2-(3-Oxo-2H-l,4-benzoxazin-4-yl)ethoxy]phenyl]-2-ethoxypropanoic acid and its salts; (-) 3-[4-[2-(3-Oxo-2H-l,4-benzoxazin-4-yl)ethoxy]phenyl]-2-ethpxypropanoic acid and its salts; (+) 3-[4-[2-(3-Oxo-2H-l,4-bcnzothiazin-4-yl)ethoxy]phenyl]-2-cthoxypropanoic acid and its salts; (+) 3-[4-[2-(3-Oxo-2H-l,4-bcnzothiazin-4-yl)ethoxy]phenyl]-2-ethoxypropanoic acid and its salts; (-) 3-[4-[2-(3-Oxo-2H-l,4-benzothiazin-4-yl)cthoxy]phenyl]-2-ethoxypropanoic acid and its salts; (+) 3-[6-[2-(2,3-Dihydro-l,4-benzoxazin-4-yl)ethoxy]naphthyl]-2-cthoxypropanoic acid and its salts; (+) 3-[6-[2-(2,3-Dihydro-l,4-bcnzoxazin-4-yl)ethoxy]naphthyl]-2-ethoxypropanoic acid and its salts; (-) 3-[6-[2-(2,3-Dihydro-l,4-benzoxazin-4-yl)ethoxy]naphthyl]-2-ethoxypropanoic acid and its salts; (+) 3-[6-[2-(2,3-Dihydro-l,4-bcnzothiazin-4-yl)ethoxy]naphthyl]-2-ethoxypropanoic acid and its sails; (+) 3-[6-[2-(2,3-Dihy(lro-l,4-bcnzolhiazin-4-yl)ethoxy]naphthyl]-2-ethoxypropanoic acid and its salts; (-) 3-[6-[2-(2,3-Dihydro-l,4-bcnzotbiazin-4-yl)clhoxy]naphlhyl]-2-cthoxypropanoic acid and its salts; (+) 3-[4-[2-(2,3-Dihydro-l,4-bcnzoxazin-4-yl)cthoxy]phenyl]-2-hydroxypropanoic ac d and its salts; (+) 3-[4-[2-(2,3-Dihydro-l,4-bcnzoxazin-4-yl)ethoxy]phcnyl]-2-hydroxypropanoic acid and its salts; (-) 3-[4-[2-(2,3-Dihydro-l,4-bcnzoxazin-4-yl)ethoxy]phenyI]-2-hydroxypropanoic acid and its salts; (+) 3-[4-[2-(2,3-Dihydro-l,4-benzothiazin-4-yl)ethoxy]phenyl]-2-hydroxypropanoic acid and its salts; (+) 3-[4-[2-(2,3-Dihydro-l,4-bcnzothiazin-4-yl)cthoxy]phenyl]-2-hydroxypropanoic acid and its salts; (-) 3-[4-[2-(2,3-Dihydro-l,4-benzothiazin-4-yl)ethoxy]phenyl]-2-hydroxypropanoic acid and its salts; (+) 3-[4-[2-(2,3-Dihydro-l,4-benzoxazin-4-yl)ethoxy]phenyl]-2-benzyloxypropanoic acid and its salts; (+) 3-[4-[2-(2,3-Dihydro-l,4-benzoxazin-4-yl)ethoxy]phenyl]-2-benzyloxypropanoic acid and its salts; (-) 3-[4-[2-(2,3-Dihydro-l,4-benzoxazin-4-yl)ethoxy]phenyl]-2-benzyloxypropanoic acid and its salts; (+) 3-[4-[2-(2,3-Dihydro-l,4-bcnzoxazin-4-yl)ethoxy]phenyl]-2-butoxypropanoic acid and its salts; (+) 3-[4-[2-(2,3-Dihydro-l,4-bcnzoxazin-4-yl)cthoxy]phcnyI]-2-butoxypropaiioic acid and its ■(■") 3-[4-[2-(2,3-Dihydro-l,4-bcnzoxazin-4-yl)ethoxy]phenyl]-2-butoxypropanoic acid and its salts; (+) 3-[4-[2-(2,3-Dihydro-l,4-bcnzoxazin-4-yl)ethoxy]phenyl]-2-hexyloxypropanoic acid and its salts; (+) 3-[4-[2-(2,3-Dihydro-l,4-bcnzoxazin-4-yl)cthoxy]phcnyl]-2-hcxyloxypropanoic acid and its salts; (.) 3-[4-[2-(2,3-Dihydro-l,4-bcnzoxazin-4-yl)ethoxy]phcnyl]-2-hcxyloxypropanoic acid and its salts; ".^, (+) 3-[4-[2-(2,3-Dihydro-l,4-bcnzoxazin-4-yl)cthoxy]phenyl]-2-phcnoxypropanoic acid and its salts; (+) 3-[4-[2-(2,3-Dihydro-l,4-bcnzoxazin-4-yl)cthoxy]phenyl]-2-phenoxypropanoic acid and its salts; (.) 3-[4-r2-(2,3-Dihydro-l,4-benzoxazin-4-yl)ethoxy]phenyl]-2-phenoxypropanoic acid and its salts; (+) 3-[4-[2-(2,3-Dihydro-l,4-benzothiazin-4-yl)ethoxy]phenyl]-2-phenoxypropanoic acid and its salts; (4-) 3-[4-[2-(2,3-Dihydro-l,4-benzothiazin-4-yl)ethoxy]phenyl]-2-phenoxypropanoic acid and its salts; (-) 3-[4-[2-(2,3-Dihydro-l,4-benzothiazin-4-yl)ethoxy]phenyl]-2-phenoxypropanoic nacid and its salts; (+) Methyl 2-methyl-3-[4-[2-(2,3-diliydro-l ,4-benzoxazin-4-yl)ethoxy]phenyl]-2-phenoxy propanoatc; (+) Methyl 2-methyl-3-[4-[2-(2,3-dihydro-l ,4-bcnzoxazin-4-yl)cthoxy]phenyl]-2-phenoxy propanoatc; (-) Methyl 2-methyl-3-[4-[2-(2,3-dihydro-l,4-bcnzoxazin-4-yl)cthoxy]phcnyl]-2-phenoxy propanoate; (+) 2-Mcthyl-3-[4-[2-(2,3-dihydro-l,4-bcnzoxazin-4-yl)cthoxy]phcnyl]-2-phcnoxypropanoic acid and its salts; (+) 2-Mcthyl-3-[4-[2-(2,3-dihydro-l,4-bcnzoxazin-4-yl)ethoxy]phenyl]-2-phenox>"propanoic acid and its salts; (-) 2-Mcthyl-3-[4-[2-(2,3-dihydro-l,4-bcnzoxazin-4-yl)cthoxy]phenyl]-2-phenoxypropanoic acid and its salts; (+) Methyl 2-methyl-3-[4-[2-(2,3-dihydro-1,4-bcnzothiazin-4-yl)ethoxy]phenyl]-2-phenoxy propanoate; (+) Methyl 2-mcthyl-3-[4-[2-(2,3-dihydro-1,4-bcnzothiazin-4-yl)cthoxy]phcnyl]-2-phcnoxy propanoate; (-) Methyl 2-methyl-3-[4-[2-(2,3-dihydro-l ,4-benzothiazin-4-yl)cthoxy]phenyl]-2-phenoxy propanoate; (+)2-Methyl-3-[4-[2-(2,3-dihydro-l,4-benzothiazin-4-yl)ethoxy]phenyl]-2-phenoxy propanoic acid and its salts; (+) 2-Methyl-3-[4-[2-(2,3-dihydro-1,4-benzothiazin-4-yl)ethoxy]phcnyl]-2-phenoxy propanoic acid and its salts; (-) 2-Methyl-3-[4-[2-(2,3-dihydro-l ,4-benzothiazin-4-yl)ethoxy]phenyl]-2-phenoxy propanoic acid and its salts; (+) 4-Nitrophenyl 3-[4-[2-(2,3-dihydro-l ,4-benzothiazin-4-yl)ethoxy]phenyl]-2-ethoxy propanoate; (+) 4-Nitrophenyl 3-[4-[2-(2,3-dihydro-l ,4-benzothiazin-4-yl)ethoxy]phenyl]-2-ethoxy propanoate; (-) 4-Nitrophcnyl 3-[4-[2-(2,3-dihydro-l ,4-benzothiazin-4-yl)ethoxy]phenyl]-2-ethoxy propanoate; ("+) 3-[4-(4-Bcnzyl-3,4-dihydro-2H-1,4-bcnzoxazin-2-yl)methoxyphenyl]-2-ethoxypropanoic acid and its salts; (+) 3-[4-(4-Bcnzyl-3,4-dihydro-2H-l,4-bcnzoxazin-2-yl)methoxyphenyl]-2-ethoxypropanoic acid and its salts; (-) 3-[4-(4-Bcnzyl-3,4-dihydro-2H-1,4-bcnzoxazin-2-yl)mcthoxyphcnyl]-2-ethoxypropanoic acid and its salts; (+) 4-Nitrophenyl-3-[4-(4-bcnzyl-3,4-dihydro-2H-l,4-benzoxazin-2-yl)methoxy phcnyl]-2-ethoxypropanoate; (+) 4-Niti-ophcnyl-3-[4-(4-bcnzyl-3,4-dihydro-2H-l ,4-bcnzoxazin-2-yl)methoxy phenyl]-2-cthoxypropanoate; and (-) 4-Nitrophcnyl-3-[4-(4-bcnzyl-3,4-diliydro-2H-l,4-benzoxazin-2-yl)methoxyphenyl]-2-ethoxypropanoate. According to a feature of the present invention, the compound of general formula (I) where R7 and R8 together represent a bond, Y represents oxygen atom, R1, R2, R3, ,R4, R5, R6, R9, R10, X, n, m and Ar arc as defined earlier, can be prepared by any of the following routes shown in Scheme I. X R9 -HCH^OkAr-CHj-pPhjBf N\ S 0R"° (HID N R5 + ? R4 (R"^OljI-CllCOOR R7r,»0 HO R"d R7_,0 (MIc) (i i id) O OR" O^OR9 -f-fCHjfc-fOfcAr-CHO (MID (l»») + O ,8 II OR9 (l"g) Scheme -1 Route (1): The reaction of a compound of the general formula (Ilia) where all symbols are as defined earlier with a compound of formula (Illb) where R9, R10 are as defined earlier and R14 represents (C|-C6)alkyl, to yield compound of general formula (I) 7 It where R , R together represent a bond and Y represents an oxygen atom may be carried out neat in the presence of a base such as alkali metal hydrides like NaH, or KH or organolithiums like CHjLi, BuLi and (he like or alkoxides such as NaOMe, NaOEt, K+BuO" or mixtures thereof. The reaction may be carried out in the presence of solvents such as THF, dioxane, DMF, DMSO, DME and the like or.mixtures thereof. HMPA may be used as cosolvent. The reaction temperature may range from -78 °C to 50 °C, preferably at a temperature in the range of-10 °C to 30 °C. The reaction is more effective under anhydrous conditions. The compound of general formula (Mb) may be prepared according to the procedure described in the literature (Annalen. Chemie, (1996) 53, 699). Route (2); The reaction of a compound of general formula (IIIc) where all 7 * R symbols arc as defined earlier with a compound of general formula (Hid) where R , R together represent a bond and all symbols are as defined earlier and L1 is a leaving group such as halogen atom, p-toluenesulfonate, methanesulfonate, trifluoromethane-sulfonate and the like, preferably a halogen atom to produce a compound of general formula (I) defined above may be carried out in the presence of solvents such as DMSO, DMF, DME, THF, dioxane, ether and the like or a combination thereof. The reaction may be carried out in an inert atmosphere which may be maintained by using inert gases such as N2, Ar, or He. The reaction may be effected in the presence of a base such as alkalis like • sodium hydroxide, or potassium hydroxide; alkali metal carbonates like sodium carbonate, or potassium carbonate; alkali metal hydrides such as sodium hydride or potassium hydride; organometallic bases like n-butyl lithium; alkali metal amides like sodamide or mixtures thereof. The amount of base may range from 1 to 5 equivalents, based on the amount of the compound of formula (IIIc), preferably the amount of base ranges from 1 to 3 equivalents. Phase transfer catalysts such as tetraalkylammonium halide or hydroxide may be added. The reaction may be carried out at a temperature in the range of 0 °C to 150 °C, preferably at a temperature in the range of 15 °C to 100 °C. The duration of the reaction may range from 0.25 to 48 hours, preferably from 0.25 to 12 hours. Route (3): The reaction of a compound of formula (Hie) where all symbols are as defined earlier with a compound of formula (Illf) where R9 = R10 and are as defined earlier, to produce a compound of the formula (I) where R7 and R8 together represent a bond may be carried out neat in the presence of a base such as alkali metal hydrides like NaH, KH or organolithiums like CHjLi, BuLi and the like or alkoxides such as NaOMe, NaOEt, K+BuO" and the like or mixtures thereof. The reaction may be carried out in the presence of aprotic solvents such as THF, dioxane, DMF, DMSO, DME and the like or mixtures thereof. HMPA may be used as cosolvent. The reaction temperature may range from -78 °C to 100 °C, preferably at a temperature in the range of-10 °C to 50 °C. Route (4): The reaction of a compound of the general formula (Ilia) where all Q other symbols are as defined earlier, with a compound of formula (IHg) where R represents hydrogen atom, R9 and R10 arc as defined earlier may be carried out in the presence of a base. The nature of the base is not critical. Any base normally employed for aldol condensation reaction may be employed; bases like metal hydride such as NaH, or KH, metal alkoxides such as NaOMe, K+BuO\ or NaOEt, metal amides such as LiNH2, or LiN(ipr>2 may be used. Aprotic solvent such as THF, ether, or dioxane may be used. The reaction may be carried out in an inert atmosphere which may be maintained by using inert gases such as N2, Ar, or He and the reaction is more effective under anhydrous conditions. Temperature in the range of-80 °C to 35 °C may be used. The P-hydroxy product initially produced may be dehydrated under conventional dehydration conditions such as treating with PTSA in solvents such as benzene or toluene. The nature .of solvent and dehydrating agent is not critical. Temperature in the range of 20 °C to reflux temperature of the solvent used may be employed, preferably at reflux temperature of the solvent by continuous removal of water using a Dean Stark water separator. Route (5): The reaction of compound of formula (IUh) where all symbols are as defined earlier and L1 represents a leaving group such as as halogen atom, p-tolucncsulfonate, mcthanesulfonatc, trifluoromethanesulfonate and the like with a compound of formula (Illi) where R7 and R8 together represent a bond and R9, R10 and Ar are as defined earlier to produce a compound of the formula (I) where m = 1 and all other symbols arc as defined above may be carried out in the presence of aprotic solvents such as"THF, DMF, DMSO, DME and the like or mixtures thereof. The reaction may be carried out in an inert atmosphere which may be maintained by using inert gases such as N2, Ar, or He. The reaction may be effected in the presence of a base such as K2CO3, Na2C03 or NaH or mixtures thereof. Acetone may be used as solvent when Na2CC>3 or K2CO3 is used as a base. The reaction temperature may range from 0 °C - 120 °C, preferably at a temperature in the range of 30 °C - 100 °C. The duration of the reaction may range from 1 to 24 hours, preferably from 2 to 12 hours. The compound of formula" (Illi) can be prepared according to known procedures by a Wittig Horner reaction between the hydroxy protected aryl aldehyde such as benzyloxyaryl aldehyde and compound of formula (1Kb), followed by deprotection. Route (6): The reaction of compound of general formula (IIIj) where all symbols are as defined earlier with a compound of general formula (Illi) where R and R together represent a bond and R9, R10 and Ar are as defined earlier to produce a compound of the formula (I) where m = 1 and all other symbols are as defined above may be carried out using suitable coupling agents such as dicyclohexyl urea, triaryl-phosphine/dialkylazadicarboxylate such as PPh3 / DEAD and the like. The reaction may be carried out in the presence of solvents such as THF, DME, CH2CI2, CHCI3, toluene, acetonitrile, carbontetrachloride and the like. The inert atmosphere may be maintained by using inert gases such as N2, Ar, or He. The reaction may be effected in the presence of DMAP, j-IOBT and they may be used in the range of 0.05 to 2 equivalents, preferably 0.25 to 1 equivalents. The reaction temperature may be in the range of 0 "C to 100 "C, preferably at a temperature in the range of 20 "C to 80 °C. The duration of the reaction may range from 0.5 to 24 hours, preferably from 6 to 12 hours. In yet another embodiment of the present invention, the compound of the general formula (I) where R", R2 R3 R4 R5 R6 R7 R9, X, n, m, R7 represents hydrogen atom, hydroxy, alkoxy, halogen, lower alkyl, optionally substituted aralkyl group, R* represents hydrogen, hydroxy, alkoxy, halogen, lower alkyl group, acyl or optionally substituted aralkyl and Ar are as defined earlier and Y represents oxygen can be prepared by one or more of the processes shown in Scheme -11: Scheme-II Route 7: The reduction of compound of the formula (IVa) which represents a compound of formula (I) where R1" and R2 together represent a bond and Y represents an oxygen atom and all other symbols are as defined earlier, obtained as described earlier (Scheme-I), to yield a compound of the general formula (I) where R and R each represent a hydrogen atom and all symbols are as defined earlier, may be carried out in the presence of gaseous hydrogen and a catalyst such as Pd/C, Rh/C, Pt/C, and the like. Mixtures of catalysts may be used. The reaction may also be conducted in the presence of solvents such as dioxanc, acetic acid, ethyl acetate and the like. A pressure between atmospheric pressure and 80 psi may be employed. The catalyst may be preferably 5 -10 % Pd/C and the amount of catalyst used may range from 50 - 300 % w/\V. The reaction may also be carried out by employing metal solvent reduction such as magnesium in alcohol or sodium amalgam in alcohol, preferably methanol. The hydrogenation may be carried out in the presence of metal catalysts containing chiral ligands to obtain a compound of formula (I) in optically active form. The metal catalyst may contain rhodium, ruthenium, indium and the like. The chiral ligands may preferably be chiral phosphines such as (2S,3S)-bis(diphenyl-phosphino)butane, 1,2-bis(diphenylphpsphino)ethane, l,2-bis(2-methoxyphenyl phenylphosphino)ethane, (-)-2,3-isopropylidene-2,3-dihydroxy-l,4-bis(diphenyl-phosphino) butane and the like. Any suitable chiral catalyst may be employed which would give required optical purity of the product (I) (Ref: Principles of Asymmetric Synthesis, Tet. Org. Chem. Series Vol 14, pp311-316, Ed. Baldwin J. E.). Route 8: The reaction of compound of formula (IVb) where all symbols are as defined earlier and \J is a leaving group such as halogen atom with an alcohol of general formula (IVc), where R9 is as defined earlier to produce a compound of the formula (I) defined earlier may be carried out in the presence of solvents such as THF, DMF, DMSO, DME and the like or mixtures thereof. The reaction may be carried out in an inert atmosphere which may be maintained by using inert gases such as N2, Ar, or He. The reaction may be effected in the presence of a base such as KOH, NaOH, NaOMe, NaOEt, K+BuO" or NaH or mixtures thereof. Phase transfer catalysts such as tetraalkylammonium halides or hydroxides may be employed. The reaction temperature may range from 20 °C - 120 °C, preferably at a temperature in the range of 30 °C - 100 °C. The duration of the reaction may range from 1 to 12 hours, preferably from 2 to 6 hours. The compound of general formula (IVb) and its preparation has been disclosed in the copending U.S. Application No. 08/982,910. Route 9: The reaction of compound of formula (Illh) defined earlier with compound of formula (llli) where all symbols are as defined earlier to produce a compound of the formula (I) where m = 1 and all other symbols are as defined above, may be carried out in the presence of solvents such as THF, DMF, DMSO, DME and the like or mixtures thereof. The reaction may be carried out in an inert atmosphere which is maintained by using inert gases such as N2, Ar or He. The reaction may be effected in the presence of a base such as K2CO3, Na2C03, NaH or mixtures thereof. Acetone may be used as a solvent when K2CO3 or Na2C03 is used as a base. The reaction temperature may range from 20 °C - 120 °C, preferably at a temperature in the range of 30 °C - 80 °C. The duration of the reaction may range from 1 to 24 hours, preferably from 2 to 12 hours. The compound of formula (Illi) may be prepared by Wittig Horner reaction between the protected hydroxyaryl aldehyde and compound of formula (Illb) followed by reduction of the double bond and deprotection. Alternatively, the compound of formula (Illi) may be prepared by following a procedure disclosed in WO 94/01420. Route 10: The reaction of compound of general formula (IIIj) defined earlier with a compound of general formula (Illi) where all symbols are as defined earlier to produce a compound of the formula (I) where m = 1 and all other symbols are as defined above may be carried out using suitable coupling agents such as dicyclohexyl urea, triarylphosphine/dialkylazadicarboxylate such as PPli3 / DEAD and the like. The reaction may be carried out in the presence of solvents such as THF, DME, CH2CI2, CHCI3, toluene, acetonitrile, carbon tetrachloride and the like. The inert atmosphere may be maintained by using inert gases such as N2, Ar, or He. The reaction may be effected in the presence of DMAP, HOBT and they may be used in the range of 0.05 to 2 equivalents, preferably 0.25 to 1 equivalents. The reaction temperature may be in the range of 0 °C to 100 °C, preferably at a temperature in the range of 20 °C to 80 °C. The duration of the reaction may range from 0.5 to 24 hours, preferably from 6 to 12 hours. Route 11: The reaction of compound of formula (IVd) which represents a compound of formula (I) where R9 represents hydrogen atom and all other symbols are as defined earlier with a compound of formula (IVe) where R9 is as defined earlier and L2 is a leaving group such as a halogen atom, may be carried out in the presence of solvents such as THF, DMF, DMSO, DME and the like. The inert atmosphere may be maintained by using inert gases such as N2, Ar or He. The reaction may be effected in the presence of a base such as KOH, NaOH, NaOMe, K+BuO\ NaH and the like. Phase transfer catalyst such as tetraalkylammonium halides or hydroxides may be employed. The reaction temperature may range from 20 °C to 150 °C, preferably at a temperature in the range of 30 °C to 100 °C. The duration of the reaction may range from 1 to 24 hours, preferably from 2 to 6 hours. Route 12: The reaction of a compound of the general formula (Ilia) as defined above wth a compound of fonnula (Illg) where R8, R9, and R10 are as denned earner may be carried out under conventional conditions. The base is not critical. Any base normally employed for aldol condensation reaction may be employed, metal hydride such as NaH, or KH; metal alkoxides such as NaOMe, K"BUO", or NaOEt; metal amides such as LiNHa, or LiN(ipr)2. Aprotic solvent such as THF may be used. Inert atmosphere may be employed such as argon and the reaction is more effective under anhydrous conditions. Temperature in the range of-80 "C to 25 "C may be used. The P-hydroxy aldol product may be dehydroxylated using conventional methods, conveniently by ionic hydrogenation technique such as by treating with a trialkyl silane in the presence of an acid such as trifluoroacetic acid. Solvent such as CH2CI2 may be used. Favorably, the reaction proceeds at 25 °C. A higher temperature may be employed if the reaction is slov/. Route 13: The reaction of a compound of general formula (IIIc) where all symbols are as defined earlier with a compound of general formula (Illd) where L" is a leaving group such as halogen atom, p-toluenesulfonate, methanesulfonate, trifluoromethane-sulfonate and the like, preferably L" is a halogen atom, and all other symbols are as defined earlier to produce a compound of general formula (I) may be carried out in the presence of solvents such as DMSO, DMF, DME, THF, dioxane, ether and the like or a combination thereof. The reaction may be carried out in an inert atmosphere which may be maintained by using inert gases such as N2, Ar, or He. The reaction may be effected in the presence of a base such as alkalis like sodium hydroxide, or potassium hydroxide, alkali metal carbonates like sodium carbonate, or potassium carbonate; alkali metal hydrides such as sodium hydride or potassium hydride; organometallic bases like n-butyl lithium, alkali metal amides like sodamidc or mixtures thereof. The amount of base may range from 1 to 5 equivalents, based on the amount of the compound of formula (IIIc), preferably the amount of base ranges from 1 to 3 equivalents. The reaction may be carried out at a temperature in the range of 0 ^C to 150 ^C, preferably at a temperature in the range of 15 ^C to 100 ^C. The duration of the reaction may range from 0.25 to 24 hours, preferably from 0.25 to 12 hours. Route 14: The conversion of compound of formula (IVf) to a compound of formula (I) may be carried out either in the presence of base or acid and the selection of base or acid is not critical. Any base normally used for hydrolysis of nitrile to acid may be employed, such as metal hydroxides such as NaOH, or KOH in an aqueous solvent or any acid normally used for hydrolysis of nilrilc to ester may be employed such as dry HCl in an exces; of alcohol such as methanol, clhanol, propanol etc. The reaction may be carried out at a temperature in the range of 0 "C to reflux temperature of the solvent used, preferably at a temperature in the range of 25 °C to reflux temperature of the solvent used. The duration of the reaction may range from 0.25 to 48 hrs. Route 15: The reaction of a compound of formula (IVg) where all symbols are as defined earlier with a compound of formula (IVc) where R" is as defined earlier to produce a compound of fonnula (I) (by a rhodium carbenoid mediated insertion reaction) may be carried out in the presence of rhodium (II) salts such as rhodium (II) acetate. The reaction may be carried out in the presence of solvents such as benzene, toluene, dioxane, ether, TUF and (he like or a combination (hereof or when practicable in the presence of R"OM as solvent at any temperature providing a convenient rate of formation of the required product, generally at an elevated temperature, such as reflux temperature of the solvent. The inert atmosphere may be maintained by using inert gases such as N2, Ar, or He. The duration of the reaction may range from 0.5 to 24 h, preferably from 0.5 to 6 h. The compound of general formula (I) where Y represents oxygen and R"" is as defined earlier may be converted to compound of fonnula (I), where Y represents NR"^ by reaction with appropriate amines of the formula NHR"°R"^, where R"° and R"^ are as defined earlier. Suitably the compound of formula (I) where YR"" represents OH may be converted to acid halide, preferably YR"° = CI, by reacting with appropriate reagents such as oxalyl chloride, thionyl chloride and the like, followed by treatment with amines. Alternatively, mixed anhydrides may be prepared from compound of formula (I) where YR"" represents OH and all other symbols are as defined earlier by treating with acid halides such acetyl chloride, acetyl bromide, pivaloyl chloride, dichlorobenzoyl chloride and the like. The reaction may be carried out in the presence of suitable base such as pyridine, triethylamine, diisopropyl ethyl amine and the like. Solvents such as halogenated hydrocarbons like CHCI3, or CH2CI2; hydrocarbons such as benzene, toluene, xylene and the like may be used. The reaction may be carried out at a temperature in the range of -40 °C to 40 °C, preferably at a temperature in the range of 0 "C to 20 "C. The acid halide or mixed anhydride thus prepared may further be treated with appropriate amines. In another embodiment of the present invention the novel intermediate of formula (IVf) halogen, lower alkyl group, acyl, optionally substituted aralkyl group; K" represents hydrogen, or optionally substituted groups selected from alkyl, cycloalkyl, aryl, aralkyl, alkoxyalkyl, alkoxycarbonyl, aryloxycarbonyl, alkylaminocarbonyl, arylaminocarbonyl, acyl, heterocyclyl, heteroaryl, or heteroaralkyi groups; the linking group represented by -(CH2)n-(0)m- may be attached either through nitrogen atom or carbon atom; n is an integer ranging from 1-4 and m is an integer 0 or 1 and a process for its preparation and its use in the preparation of (3-aryl-a-substituted hydroxyalkanoic acids is provided. cyanide such as trimethylsilyl cyanide produces a compound of formula (IVf) wliere 3J and R^ represent hydrogen atoms and all other symbols are as defined earlier. v. ■wa^ groups; I represenis oxygen; me imKing group represeniea oy -i,^tt2jn-ivjjm- may oe attached either through nitrogen atom or carbon atom; n is an integer ranging from 1-4 and m is an integer 0 or 1 and a process for its preparation and its use in the preparation of P-aryl-a-substituted hydroxyalkanoic acids is provided. mperature may range from 20 "C - 120 °C, preferably at a temperature in the range of ) °C - 80 ^C. The duration of the reaction may range from 1 to 24 hours, preferably om 2 to 12 hours. As used in this application the term neat means the reaction is carried out without the use of solvent. The pharmaccutically acceptable salts arc prepared by reacting the compound of formula (I) with 1 to 4 equivalents of a base such as sodium hydroxide, sodium methoxide, sodium hydride, potassium t-butoxidc, calcium hydroxide, magnesium hydroxide and the like, in solvents like ether, THF, methanol, t-butanol, dioxane, isopropanol, ethanol etc. Mixtures of solvents may be used. Organic bases like lysine, argininc, diethanolamine, choline, guanidine and their derivatives etc. may also be used. Alternatively, acid addition salts wherever applicable are prepared by treatment with acids such as hydrochloric acid, hydrobromic acid, nitric acid, sulfuric acid, phosphoric acid, p-toluenesulphonic acid, methanesulfonic acid, acetic acid, citric acid, maleic acid, salicylic acid, hydroxynaphthoic acid, ascorbic acid, palmitic acid, succinic acid, benzoic acid, benzenesulfonic acid, tartaric acid and the like in solvents like ethyl acetate, ether, alcohols, acetone, THF, dioxane etc. Mixtures of solvents may also be used. The stereoisomers of the compounds forming part of this invention may be prepared by using reactants in their single enantiomeric form in the process wherever possible or by conducting the reaction in the presence of reagents or catalysts in their single enantiomer form or by resolving the mixture of stereoisomers by conventional methods. Some of the preferred methods include use of microbial resolution, resolving the diastercomeric salts formed with chiral acids such as mandelic acid, camphorsulfonic acid, tartaric acid, lactic acid, and the like wherever applicable or chiral bases such as brucinc, cinchona alkaloids and their derivatives and the like. Commonly used methods are compiled by Jaques et al in "Enanfiomers, Racemates and Resolution" (Wiley Interscience, 1981). More specifically the compound of formula (I) where YR"" represents OF! may be converted to a l.i mixture of diastercomeric amides by treating with chiral amines, aminoacids, aminoalcohols derived from aminoacids; conventional reaction conditions may be employed to convert acid into an amide; the diastercomers may be separated either by fractional crystallization or chromatography and the slcrcoi.somcrs of compound of formula (I) may be prepared by hydrolyzing the pure diastercomeric amide. Various polymorphs of a compound of general formula (1) forming part of this invention may be prepared by crystallization of compound of fonnula (I) under different conditions. For example, using different solvents commonly used or their mixtures for rccrystalliz?. ion; crystallizations at different temperatures; various modes of cooling, ranging from very fast to very slow cooling during crystallizations. Polymorphs may also be obtained by heating or melting the compound followed by gradual or fast cooling. The presence of polymorphs may be determined by solid probe nmr spectroscopy, ir spectroscopy, differential scanning calorimetry, powder X-ray diffraction or such other techniques. The compounds of general formula (I) are useful in the treatment and/or prophylaxis of insulin resistance (type II diabetes), leptin resistance, impaired glucose tolerance, dyslipidemia, disorders related to syndrome X such as hypertension, obesity, insulin resistance, coronary heart disease, and other cardiovascular disorders. These compounds may also be useful as aldose reductase inhibitors, for improving cognitive functions in dementia, treating diabetic complications, disorders related to endothelial cell activation, psoriasis, polycystic ovarian syndrome (PCOS), inflammatory bowel diseases, osteoporosis and for the treatment of cancer. The compounds of the present inventions are useful in the treatment and/or prophylaxis of arteriosclerosis and/or xanthoma in combination with one or more HMG CoA reductase inhibitors, hyupolipidcmic/ hypolipoproteinemic agents such as fibric acid derivatives, nicotinic acid, cholestyramine, colestipol or probucol. The compounds of the present invention in combination with HMG CoA reductase inhibitors and/or hypolipidcmic/liypolipoprotein agents can be administered together or within such a period to act synergistically. The HMG CoA reductase inhibitors may be selected from those used for the treatment or prevention of hyperlipidemia such as lovastatin, provastatin, simvastatin, fluvastatin, atorvastatin, ccrivastatin and their analogs thereof. Suitable fibric acid derivative may gemfibrozil, clofibrate, fenofibrate, ciprofibrate, benzafibrate and their anologs. The present invention also provides pharmaceutical compositions, containing the compounds of the general formula (I), as defined above, their tautomeric forms, their stereoisomers, their polymorphs, their pharmaceutically acceptable salts, or their pharmaceutically acceptable solvates in combination with the usual pharmaceutically employed carriers, diluents and the like. The pharmaceutical composition may be in the forms normally employed, such as tablets, capsules, powders, syrups, solutions, suspensions and the like, may contain flavorants, sweeteners etc. in suitable solid or liquid carriers or diluents, or in suitable sterile media to form injectable solutions or suspensions. Such compositions typically contain from 1 to 20 %, preferably 1 to 10 % by weight of active compound, the remainder of the composition being pharmaceutically acceptable carriers, diluents or solvents. The compound of the formula (I) as defined above are clinically administered to mammals, including man, via either oral or parenteral routes. Administration by the oral" route is preferred, being more convenient and avoiding the possible pain and irritation of " injection. However, in circumstances where the patient cannot swallow the medication, or absorption following oral administration is impaired, as by disease or other abnormality, it is essential that the drug be administered parentcrally. By cither route, the dosage is in the range of about 0.01 to about 50 mg / kg body weight of the subject per day or preferably about 0.01 to about 30 mg / kg body weight per day administered singly or as a divided dose. However, the optimum dosage for the individual subject being treated will be determined by the person responsible for treatment, generally smaller doses being administered initially and thereafter increments made to determine the most suitable dosage. Suitable pharmaceutically acceptable carriers include solid fillers or diluents and sterile aqueous or organic solutions. The active compound will be present in such pharmaceutical compositions in the amounts sufficient to provide the desired dosage in the range as described above. Thus, for oral administration, the compounds can be combined with a suitable solid, liquid carrier or diluent to form capsules; tablets, powders, syrups, solutions, suspensions and the like. The pharmaceutical compositions, may, if desired, contain additional components such as flavorants, sweeteners, excipients and the like. For parenteral administration, the compounds can be combined with sterile aqueous or organic media to form injectable solutions or suspensions. For example, solutions in sesame or peanut oil, aqueous propylene glycol and the like can be used, as well as aqueous solutions of water-soluble pharmaceutically-acceptable acid addition salts or salts with base of the compounds. The injectable solutions prepared in this fBianner can then be administered intravenously, intrapentoneally, subcutaneously, or intramuscularly, with intramuscular administration being preferred m humans. The invention is explained in detail in the examples given below which are provided by way of illustration only and therefore should not be construed to limit the scope of the invention. Preparation t 4-[2-(3-Oxo-2H-l,4-benzoxazin-4-yl)ethoxy)bcnzaIdehydc afford the title compound (0.41 g, 72 %) as a pale yellow solid, mp : 94 - 96 °C. "H NMR (CDCb, 200 MHz): D 3.05 (t, J = 5.21 Hz, 2H), 3.79 - 3.85 (complex, 4H), 4.31 (t, J = 5.82 Hz, 2H), 6.64 - 6.78 (complex, 2H), 6.97 - 7.25 (complex, 4H), 7.53 - 7.80 (complex, 3H), 8.13 (s, IH). V f under nitrogen atmosphere at 25 °C. Methanesulfonyl chloride (5.75 g, 50.25 mmol) was added to the above reaction mixture at 0 °C and stirring was continued for further 10 h at 25 °C. Water (50 mL) was added and extracted with chloroform (2 x 25 mL). The combined organic extracts were washed with water (50 mL), dried (Na2S04), filtered and the solvent was evaporated under reduced pressure. The residue was chromatographed over silica gel using a mixture of ethyl acetate and hexane (2 : 8) to yield (4-methyl-3,4-dihydro-2H-l,4-benzoxazin-2-yl)methyl methanesulfonate (3.7 g, 43 %) as a syrup. 2H), 4.46 (d, J = 7.8 Hz, 2H), 4.60 - 4.65 (complex, IH), 6.65 - 6.89 (complex, 4H), 7.00 (d, J = 8.8 Hz, 2H), 7.32 (s, 5H), 7.83 (d, J = 8.8 Hz, 2H), 9.90 (s, IH). Example 1 Ethyl (E/;:)-3-[4-[2-(2,3-dihydro-l,4-benzoxazln-4-yI)ethoxylphenyII-2-ethoxy propenoace > ■ the end of"his time water (50 mL) was added and pH was adjusted to ca 7.0 using 10 % aqueous hydrochloric acid and the solution was extracted with ethyl acetate (2x10 mL). The combined organic extract was washed with water (75 mL), brine (75 mL), dried (Na2S04), filtered and the solvent was removed under reduced pressure. The residue was chromatographcd over silica gel using a mixture of ethyl acetate and pet. ether (2 : 8) as an chicnt to get the title compound (5.0 g, 64 %) as a gummy liquid. "H NMR (CDClj, 200 MHz) D : 1.15 (t, J = 7.0 Hz, 3H), 2.93 (d, J = 6.64 Hz, 2H), 3.23 - 3.38 (complex, IH), 3.43 - 3.72 (complex, 8H), 3.97 (t, J = 6.9 Hz, IH), 4.14 (t, J = 5.81 Hz, 2H), 4.19 (t, J = 4.2 Hz, 2H), 6.55 - 6.83 (complex, 6H), 7.13 (d, J = 8.39 Hz, 2H). Example 3 Ethyl (E/Z)-3-I2-(2^-dihydro-l,4-bcnzoxazin-4-yl)mcthyIbenzofuran-5-yl)-2-cthoxy propenoate N OEt ,0^ COzEt The title compound (0.8 g, 58 %) was prepared as a gummy material from 5-formyl-2-(2,3-dihydro-l,4-benzoxazin-4-yl)methyl benzofuran (LO g, 3.41 mmol) by a procedure analogous to that described in example 1. "H NMR (CDCI3, 200 MHz) D: 1.06 and L38 ( 6H, OCH2CH3 and OCH2CH3, triplet signals), 3.48 (t, J = 4.98 Hz, 2H), 3.89 - 4.18 (complex, 2H), 4.28 - 4.40 (complex, 4H), 4.54 and 4.56 (combined, 2H, -NCHi-signals), 6.20 (0.5 H, E isomer of olefinic proton), 6.52 and 6.59 (combined, IH), 6.65 - 6.83 (complex, 2.5 H), 7.08 - 7.11 (complex, IH), 7.32 - 7.44 (complex, 2H), 7.69 (d, J = 8.3 Hz, IH), 7.99 (s, IH). Example 4 Ethyl (E/Z)-3-{4-[2-(2,3-dihydro-l,4-benzothiazin-4-yI)ethoxylphenyII-2-ethoxy propenoate llic title compound was prepared as a 38 : 62 ratio of geometric isomers (as measured by "H NMR) (3.2 g, 71 %) as a gum, from 4-[2-(2,3-dihydro-l,4-benzothiazin-4-yl)ethoxy]benzaldehyde (3.3 g, 11.03 mmol) prepared according to the process described in Preparation 2 disclosed in Patent Application 08/982,910 by a method analogous to that described in example 1. "H NMR (CDCI3, 200 MHZ) 0: 1.14 and 1.35 (combined, 6H, isomeric -OCH2CH3 triplet signals), 3.02 (t, J = 4.9 Hz, 2H), 3.69 - 3.88 (complex, 4H), 3.92 - 4.03 (complex, 2H), 4.12 - 4.33 (complex, 4H), 6.06 (s, 0.38 H, E olefmic proton), 6.61 - 7.14 (complex, 6.62 H), 7.73 (d, J = 8.81 Hz, 2H). Example 5 Methyl 3-(2-(2,3-dlhydro-l,4-benzoxazln-4-yI)methyIbenzofuran-5-yl]-2-ethoxy propanoate OCH2CH3 "CO2CH3 The title compound (0.6 g, 78 %) was prepared as a gum from Ethyl (E/Z)-3-[2-(2,3-dihydro-l ,4-benzoxazin-4-yl)methylbenzofuran-5-yl]-2-ethoxypropenoate (0.8 g, 1.96 mmol) obtained in example 3 by a procedure analogous to that described for example 2. "H NMR (CDCI3, 200 MHz) D: 1.15 (t, J = 7.0 Hz, 3H), 3.07 (d, J = 5.8 Hz, 2H), 3.28 - 3.67 (complex, 4H), 3.70 (s, 3H), 4.03 (t, J = 6.0 Hz, IH), 4.28 (t, J = 4.47 Hz, 2H), 4.54 (s, 2H), 6.52 (s, IH), 6.62 - 6.89 (complex, 4H), 7.10 (d, J = 7.05 Hz, IH), 7.35 (complex, 2H). Example 6 Mcthyl-3-[4-I2-(2,3-dlhydro-l,4-bcnzothlazln-4-yl)ethoxy]phcnyl|-2-cthoxy propanoate :H2)2—o—^<:: och2ch3> Tke title compound (2.3 g, 76 %) was prepared as a gummy liquid from ethyl (E/Z)-3-[4-[2-(2,3-dihydro-l,4-benzothiazin-4-yl)cthoxy]phenyl]-2-ethoxypropcnQate (3.1 g, 7.50 mmol) obtained in example 4 by an analogous procedure to that described in example 2. Methyl 2-(2-fluorobcnzyI)-3-[4-[2-(2,3-dihydro-I,4-benzoxazin-4-yI)ethoxy|phenyI]-2-cthoxypropanoate The title compound (1.0 g, 51 %) was prepared as a colorless syrup from ethyl (E/Z)-3-[4-[2-(3-oxo-2H-l,4-benzoxazin-4-yl)ethoxy]phenyl]-2-ethoxypropenoate (2.0 g, 4.8 mmol) obtained in example 9 by a procedure analogous to that described in example 2. "H NMR (CDCI3, 200 MHz): D 1.14 (t, J = 7.0 Hz, 3H), 2.92 (d, J = 6.6 Hz, 2H), 3.25 - 3.41 (complex, IH), 3.53 - 3.61 (complex, IH), 3.68 (s, 3H), 3.96 (t, J = 7.0 Hz, IH), 4.21 - 4.32 (complex, 4H), 4.68 (s, 2H), 6.77 (d, J = 8.63 Hz, 2H), 6.98 - 7.33 (complex, 6H). The title compound (1.9 g, 17 %) was prepared as a gummy liquid from 2-(2,3-dihydro-l,4-benzothiazin-4-yl)ethyl methanesulfonate (8.2 g, 30.0 mmol), potassium carbonate (20.7 g, 150 mmol) and ethyl 2-hydroxy-3-(4-hydroxyphenyl)propanoate (6.3 g, 30.0 mmol) using conditions analogous to that described in preparation 2. i atmosphere. The reaction mixture was stirred at 0 "C for 30 minutes followed by the addition of benzyl bromide (0.46 g, 2.69 mmol). The mixture was allowed to warm to 25 "C and stirring was continued for further 18 h. Water (25 mL) \yas added and extracted with ethyl acetate (2 x 50 mL). The combined organic layer was washed with water (50 mL), brine (50 mL) and dried Na2S04 and filtered. The solvent was evaporated under reduced pressure and the residue was chromatographed over silica gel using a mixture of ethyl acetate and pet. ether (2 : 8) as eluent to afford the title compound (0.3 g) along with benzyl 3-[4-[2-(2,3-dihydro-l,4-benzoxazin-4-yl)ethoxy]phcnyl]-2-benzy!oxypropanoate. This mixture (1 : 1) is used in example 47 without any separation. "H NMR (CDCI3, 200 MHz): D 1.23 (t, J = 7.05 Hz, 1.5H). 2.99 (d, J - 7.06 Hz, 4H), 3.0 - 3.72 (complex, 8H), 4.05 - 4.30 (complex, 12H), 4.32 - 4.71 (complex, 4H), 5.13 (s, 2H), 6.55 - 6.89 (complex, 12H), 7.05 - 7.36 (complex, 19H). Example 16 Ethyl 3-[4-|2-(2,3-dihydro-l,4-benzoxazin-4-yl)ethoxylphenyl]-2-butoxypropanoate Example 18 Ethyl (E/Z)-3-{4-[2-(2,3-dihydro-l,4-benzoxazln-4-yI)ethoxy]phenyiI-2-phenoxy propenoate Example 20 Ethyl (E/Z)-3-[4-[2-(2,3-dlhydro-l,4.benzothlazin-4-yl)ethoxyJphenyIl-2-phenoxy propenoate "H NMR (CDCI3, 200 MHz): D 2.99 (t, J = 5.439 Hz, 2H), 3.15 (d, J = 5.99 Hz, 2H), 3.60 - 3.78 (complex, 7H), 4.13 (t, J = 5.4 Hz, 2H), 4.74 (t, J = 6.23 Hz, IH), 6.58 -6.89 (complex, 6H), 6.90 - 7.06 (complex, 2H), 7.11 - 7.30 (complex, 5H). Example 22 Ethyl (E/Z)-3-I4-(4-methyl-3,4-dihydro-2H-l,4-benzoxazln-2-yl)methoxyphenyI]-2-ethoxypropenoate Example 24 Ethyl (E/Z)-3-[4-(4-benzyl-3,4-dihydro-2H-l,4-benzoxazin-2-yl)methoxyplienyI]-2- ethoxypropenoate 1 COOH (CH2)T-0"" ^ " To a solution of methyl 3-[4-[2-(2,3-dihydro-l,4-benzoxazin-4-yl)ethoxy]phenyl]-2-ethoxy propanoate (4.7 g, 12.2 mmol) obtained in example 2 in methanol (50 mL) was added aqueous 10 % sodium hydroxide (28 mL). The mixture was stirred at 25 °C for 3h. The solvent was removed under reduced pressure and the residue was acidified with 2N hydrochloric acid extracted with ethyl acetate (2 x 100 mL). The combined ethyl acetate layers were washed with water (75 mL), brine (50 mL), dried (Na2S04), filtered and the solvent was evaporated under reduced pressure. The residue was chromatographed over silica gel using ethyl acetate to give the title compound (3.0 g, 66 %) as a syrupy liquid. "H NMR (CDCb, 200 MHz): D 1.17 (t, J = 6.96 Hz, 3H), 2.85 - 3.12 (complex, 2H), 3.40 - 3.61 (complex, 4H), 3.69 (t, J = 5.72 Hz, 2H), 4.04 (dd, J = 7.38 and 4.27 Hz, IH), 4.10 - 4.28 (complex, 4H), 6.52 - 6.85 (complex, 6H), 7.14 (d, J = 8.6 Hz, 2H), COOH proton is too broad to observe. Example 27 3-f4-[2-(2,3-Dihydro-l,4-benzoxazin-4-yI)ethoxy]phenyI]-2-ethoxypropanoicacid, sodium salt CCX)Na r.H-\.—O (CH2)2—O—"vW^ OEt A mixture of 3-[4-[2-(2,3-dihydro-l,4-benzoxazin-4-yl)ethoxy]phenyl]-2-etlioxypropanoic acid (0.15 g, 0.4 mmol) obtained in example 26 and sodium methoxide (23.4 mg) in methanol (5 mL) was stirred at 25 °C for 2h. The solvent was removed and the residue was triturated with dry ether (3 x 10 mL). The precipitated solids were filtered, washed with dry ether (2x5 mL) and dried over P2O5 under vacuum to afford the title compound (0.12 g, 75 %) as a coloriess hygroscopic solid. "H NMR (DMSO-dfi, 200 MHz) : 5 0.98 (t, J = 6.83 Hz, 3H), 2.60-2.69 (complex, IH), 2.78 - 2.92 (complex, IH), 3.05 - 3.21 (complex, 2H), 3.41 - 3.75 (complex, 5H), 4.08 -4.21 (complex, 4H), 6.49 - 6.85 (complex, 6H), 7.12 (d, J = 8.3 Hz, 2H). The title compound (0.6 g, 65 %) was prepared as a syrupy liquid from methyl 2-methyl-3-[4-[2-(2,3-dihydro-l,4-benzothiazin-4-yl)ethoxy]phenyl]-2-phenoxypropanoate (0.96"g, 2.00 mmol) obtained in example 59 by an analogous procedure to that described in example 26. "H NMR (CDCb, 200 MHz) : 6 1.42 (s, 3H), 3.03 (t, J = 5.0 Hz, 2H), 3.12, 3.30 (IH each, 2d, J = 13.8 Hz each), 3.70 - 3.80 (complex, 4H), 4.15 (t, J = 5.5 Hz, 2H), 6.58 -7,08 (complex, 8H). 7.18 - 7.30 (complex, 5H), COOH proton is too broad to observe. Example 61 4-NitrophenyI3-[4-[2-(2,3-dihydro-l,4-benzothiazin-4-yl)ethoxylphenyll-2-ethoxy propanoate: The title compound (0.15 g, 38 %) was prepared as a yellow liquid from 3-[4-[2-(2,3-dihydro-l,4-benzothiazin-4-yl)ethoxy]phenyl]-2-ethoxypropanoic acid (0.3 g, 0.77 mtnol) obtained in example 29 and 4-nitrophenol by an analogous procedure to that described in example 32. "H NMR (CDCI3, 200 MHz) : 5 1.24 (t, J = 6.92 Hz, 3H), 3.04 (t, J = 5.16 Hz, 2H), 3.12 (d, J = 6.63 ?Iz, 2H), 3.46 - 3.65 (complex, IH), 3.70 - 3.86 (complex, 5H), 4.16 (t, J = 5.23 Hz, 2H), 4.26 (t, J = 5.5 Hz, IH), 6.62 - 6.74 (complex, 2H), 6.84 (d, J = 8.62 Hz, 211), 6.94 - 7.22 (complex, 6H), 8.23 (d, J = 9.0 Hz, 2H). Example 62 J-|4-(4-benzyl-3,4-dihydro-2ir-l,4-benzoxazin-2-yI)mcthoxyphenyl|-2-ethoxy iropanoic acid (0".8 g, 2.16 mmol) obtained in example 25 by an analogous procedure to that described in example 26. "H NMR (CDCI3, 200 MHz) : 6 1.17 (t, J = 7.0 Hz, 3H), 2.99 - 3.13 (complex, 2H), 3.31 - 3.65 (complex, 4H), 4.01 - 4.24 (complex, 3H), 4.45 (d, J = 3.4 Hz, 2H), 4.52 -4.59 (complex, IH), 6.62 - 6.68 (complex, 6H), 7.14 (d, J = 8.6 Hz, 2H), 7.27 (s, 5H). COOH proton is too broad to observe. Example 63 3-(4-(4-Bcnzyl-3,4-dlhydro-2n-l,4-bciizoxazln-2-yI)nictlioxyphciiyl]-2-cthoxy propanoic acid, sodium salt The title compound (0.15 g, 75 %) was prepared as a colorless hygroscopic solid from 3-[4-(4-bcn7yl-3,4-dihydro-2H-1,4-bcii/,oxazin-2-yl)mcthoxyphcnyl]-2-ethoxy propanoic acid (0.2 g, 0.44 mmol) obtained in example 62 by an analogous procedure to (hat described in example 27. "H NMR (DMSO-dfi, 200 MHz): 5 0.99 (t, J = 6.97 Hz, 3H), 2.60 - 2.90 (complex, 2H), 3.30 - 3.65 (complex, 5H), 4.16 (d, J = 5.0 Hz, 2H), 4.40 - 4.65 (complex, 3H), 6.55 -6.89 (complex, 6H), 7.14 (d, J = 8.5 Hz, 2H), 7.32 (s, 5H). Example 64 4-Nitroplienyl-3-I4-(4-benzyl-3,4-diliydro-2II-l,4-benzoxazin-2-yl)methoxyphenyIl-2-ethoxypropanoate The title compound (0.6 g, 100 %) was prepared as a dark brown liquid from 3-[4-(4-benzyl-3,4-dihydro-2H-l,4-benzoxazin-2-yl)methoxyphenyl]-2-ethoxypropanoic acid (0.5 g, 1.34 mmol) obtained in example 62 and 4-nitro phenol by a procedure analogous to that described in example 32. "H NMR (CDCI3, 200 MHz): 6 1.25 (t, J = 7.0 Hz, 3H), 3.14 (d, J = 6.6 Hz, 2H), 3.33 -3.55 (complex, 3H), 3.69 - 3.77 (complex, IH), 4.05 - 4.31 (complex, 3H), 4.46 (d, J = 3.4 Hz, 2H), 4.55 - 4.61 (complex, IH), 6.63 - 6.68 (complex, 6H), 7.11 - 7.28 (complex, 7H), 7.52 (d, J = 7.6 Hz, 2H), 8.23 (d, J = 9.0 Hz, 2H). The compounds of the present invention lowered random blood sugar level, triglyceride, total cholesterol, LDL, VLDL and increased HDL. This was demonstrated by in vitro as well as in vivo animal experiments. Demonstration of Efficacy of Compounds A) In vitro : a) Determination of hPPARa activity Ligand binding domain of hPPARa was fused to DNA binding domain of Yeast transcription factor GAL4 in eucaryotic expression vector. Using superfect (Qiagen, Germany) as transfecting reagent HEK-293 cells were transfected with this plasmid and a reporter plasmid harboring (he luciferase gene driven by a GAL4 specific promoter. Compound was added at different concentrations after 42 hrs of transfection and incubated overnight. Luciferase activity as a function of compound binding/activation capacity of PPARa was measured using Packard Luclite kit (Packard, USA) in Top Count (Ivan Sadowski, Brendan Bell, Peter Broag and Melvyn Hollis. Gene. 1992. 118: 137 -141; Superfect Transfection Reagent Handbook. February, 1997. Qiagen, Gennany). b) Determination of hPPARy activity Ligand binding domain of hPPARyl was fused to DNA binding domain of Yeast transcription factor GAL4 in eucaryotic expression vector. Using lipofectamine (Gibco BRL, USA) as transfecting reagent HEK-293 cells were transfected with this plasmid and a reporter plasmid harboring the luciferase gene driven by a GAL4 specific promoter. Compound was added at 1 ^M concentration after 48 hrs of transfection and incubated overnight. Luciferase activity as a function of drug binding/activation capacity of PPARyl was measured using Packard Luclite kit (Packard, USA) in Packard Top Count (Ivan Sadowski, Brendan Bell, Peter Broag and Melvyn Hollis. Gene. 1992. 118 : 137 -141; Guide to Eukaryotic Transfections with Cationic Lipid Reagents. Life Technologies, GIBCO BRL, USA). c) Determination of HMG CoA reductase inhibition activity Liver microsome bound reductase was prepared from 2% cholestyramine fed rats at mid-dark cycle. Spectrophotometric assays were carried out in 100 mM KH2PO4, 4 mM DTT, 0.2 mM NADPH, 0.3 mM HMG CoA and 125 ^g of liver microsomal enzyme. Total reaction mixture volume was kept as 1 ml. Reaction was started by addition of HMG CoA. Reaction mixture was incubated at 37 °C for 30 min and decrease in absorbance at 340 nm was recorded. Reaction mixture without substrate was used as . blank (Goldstein, J. L and Brown, M. S. Progress in understanding the LDL receptor and HMG CoA reductase, two membrane proteins that regulate the plasma cholesterol. J. Lipid Res. 1984, 25: 1450 - 1461). The test compounds inhibited the HMG CoA reductase enzyme. B) In vivo a) Efficacy in genetic models Mutation in colonies of laboratory animals and different sensitivities to dietary regimens have made the development of animal models with non-insulin dependent diabetes and hyijcrlipidemia associated with obesity and insulin resistance possible. Genetic models such as db/db and ob/ob (Diabetes, (1982) 31(1) : 1-6) mice and zucker fa/fa rats have been developed by the various laboratories for understanding the pathophysiology of disease and testing the efficacy of new antidiabetic compounds (Diabetes, (1983) 32: 830-838 ; Annu. Rep. Sankyo Res. Lab. (1994). 46 : 1-57). The homozygous animals, C57 BL/KsJ-db/db mice developed by Jackson Laboratory, US, arc obese, hyperglycemic, hyperinsulinemic and insulin resistant (J. Clin. Invest., (1990) 85 : 962-967), whereas heterozygous arc lean and normoglycemic. In db/db model, mouse progressively develops insulinopenia with age, a feature commonly observed in""late stages of human type II diabetes when blood sugar levels are insufficiently controlled. The state of pancreas and its course vary according to the models. Since this model resembles that of type II diabetes mellitus, the compounds of the present invention were tested for blood sugar and triglycerides lowering activities. Male C57BL/KsJ-db/db mice of 8 to 14 weeks age, having body weight range of 35 to 60 grams, bred at Dr. Reddy"s Research Foundation (DRF) animal house, were used in the experiment. The mice were provided with standard feed (National Institute of Nutrition (NIN), Hyderabad, India) and acidified water, ad libitum. The animals having m6re than 350 mg / dl blood sugar were used for testing. The number of animals in each group was 4. Test compounds were suspended on 0.25 % carboxymethyl celhilosc and administered to test group at a dose of 0.1 mg to 30 mg / kg through oral gavage daily for 6 days. The control group received vehicle (dose 10 ml / kg). On 6th day the blood samples were collected one hour after administration of test compounds / vehicle for assessing the biological activity. The random blood sugar and triglyceride levels were measured by collecting blood (100 |il) through orbital sinus, using heparinised capillary in tubes containing EDTA which was centrifuged to obtain plasma. The plasma glucose and triglyceride levels were measured spectrometrically, by glucose oxidase and gIycerol-3-P04 oxidase/peroxidase enzyme (Dr. Reddy"s Lab. Diagnostic Division Kits, Hyderabad, India) methods respectively. The blood sugar and triglycerides lowering activities of the test compound was calculated according to the formula. No adverse effects were observed for any of the mentioned compounds of invention in the above test. The ob/ob mice were obtained at 5 weeks of age from Bomholtgard, Demark and were used at 8 weeks of age. Zucker fji/fa fatty rats were obtained from IffaCredo, France at 10 weeks of age and were used at 13 weeks of age. The animals were maintained under 12 hour light and dark cycle at 25 + 1 "C. Animals were given standard laboratory chow (NIN, Hyderabad, India) and water, ad libitum (Fujiwara, T., Yoshioka, S., Yoshioka, T., Ushiyama, I and Horikoshi, H. Characterization of new oral antidiabetic agent CS-045. Studies in KK and ob/ob mice and Zucker (\itty rats. Diabetes. 1988. 37 : 1549 - 1558). • The test compounds were administered at O.l to 30 mg/kg/day dose for 9 days. The control animals received the vehicle (0.25 % earboxymcthylcclose, dose 10 ml/kg) through oral gavage. The blood samples were collected in fed state 1 hour after drug administration on 0 and 9 day of treatment. The blood was collected from the retro-orbital sinus through hcpariniscd capillary in EDTA containing tubes. After centrifugation, plasma sample was separated for triglyceride, glucose, free fatty acid, total cholesterol and insulin estimations. Measurement of plasma triglyceride, glucose, total cholesterol were done using commercial kits (Dr. Reddy"s Laboratory, Diagnostic Division, India). The plasma free fatty acid was measured using a commercial kit from Boehringer Mannheim, Gcnnany. The plasma insulin was measured using a RIA kit (BARC, India). The rcduction of various parameters examined arc calculated according to the formula given below. In ob/ob mice oral glucose tolerance lest was performed after 9 days treatment. Mice were fasted for 5 hrs and challenged with 3 gm/kg of glucose orally. The blood samples were collected at 0, 15, 30. 60 and 120 min for estimation of plasma glucose levels. The experimental results from the db/db mice, ob/ob mice, Zucker fa/fa rats suggest that the novel compounds of the present invention also possess therapeutic utility as a prophylactic or regular treatment for diabetes, obesity, cardiovascular disorders such as hypertension, hyperlipidaemia and other diseases; as it is known from the literature that such diseases are interrelated to each other. Blood glucose level and triglycerides are also lowered at doses greater than 10 mg/kg. Normally, the quantum of reduction is dose dependent and plateaus at certain dose. b) Plasma triglyceride and Cholesterol lowering activity in hypercholesterolemic rat models Male Sprague Dawley rats (NIN stock) were bred in DRF animal house. Animals were maintained under 12 hour light and dark cycle at 25 ± 1 "C. Rats of 180 - 200 gram body weight range were used for the experiment. Animals were made hypercholesterolemic by feeding 2% cholesterol and 1% sodium cholate mixed with standard laboratory chow [National Institute of Nutrition (NIN), Hyderabad, India] for 6 days. Throughout the experimental period the animals were maintained on the same diet (Petit, D., Bonnefis, M. T., Rey, C and Infante, R. Effects of ciprofibrate on liver lipids and lipoprotein synthesis in normo- and hyperlipidemic rats. Atherosclerosis. 1988. 74 : 215-225). The test compounds were administered orally at a dose 0.1 to 30 mg/kg/day for 3 days. Control group was treated with vehicle alone (0.25 % Carboxymethylcellulose; dose 10 ml/kg). The blood samples were collected in fed state 1 hour after drug administration on 0 and 3 day of compound treatment. The blood was collected from the retro-orbital sinus through hcpariniscd capillary in EDTA containing lubes. After ccntrifugation, plasma sample was separated for total cholesterol, HDL and triglyceride estimations. Measurement of plasma triglyceride, total cholesterol and HDL were done using commercial kits (Dr. Rcddy"s Laboratory, Diagnostic Division, India). LDL and VLDL cholesterol were calculated from the data obtained for total cholesterol, HDL and triglyceride. The reduction of various parameters examined are calculated according to (he formula. i reduction ; t increase c) Plasma triglyceride and total cholesterol lowering activity hi Swiss albino mice and Guinea pigs Male Swiss albino mice (SAM) and male Guinea pigs were obtained from NIN and housed in DRF animal house. All these animals were maintained under 12 hour light and dark cycle at 25 ± 1 °C. Animals were given standard laboratory chow (NIN, Hyderabad, India) and water, ad libitum. SAM of 20 - 25 g body weight range and Guinea pigs of 500 - 700 g body weight range were used (Oliver, P., Plancke, M. O., Marzin, D., Clavcy, V., Sauzieres, J and Fnichart, J. C. Effects of fenofibrate, gemfibrozil and nicotinic acid on plasma lipoprotein levels in normal and hyperlipidemic mice. Atherosclerosis. 1988. 70 : 107 - 114). The test compounds were administered orally to Swiss albino mice at 0.3 to 30 mg/kg/day dose for 6 days. Control mice were treated with vehicle (0.25% Carboxynicthylccllulosc; dose 10 ml/kg). The test compounds were administered orally to Guinea pigs at 0.3 to 30 mg/kg/day dose for 6 days. Control animals were treated with vehicle (0.25% Carboxymethylcellulose; dose 5 ml/kg). The blood samples were collected in fed state 1 hour after drug administration on 0 and 6 day of treatment. The blood was collected from the rclro-orbital sinus through heparinised capillary in EDTA containing tubes. After centrifugation, plasma sample was separated for triglyceride and total cholesterol (Wieland, O. Methods of Enzymatic analysis. Bcrgermeyer, H. O., Ed., 1963. 211 - 214; Trinder, P. Ann. Clin. Biochem. 1969. 6 : 24 - 27). Measurement of plasma triglyceride, total cholesterol and HDL were done using commercial kits (Dr. Reddy"s Diagnostic Division, Hyderabad, India). c) Body weight reducing effect in cholesterol fed hamsters : Male Syrian Hamsters were procured from NIN, Hyderabad, India. Animals were housed at DRF animal house under 12 hour light and dark cycle at 25 ± 1 "C with free access to food and water. Animals were maintained with 1 % cholesterol containing standard laboratory chow (NTN) from the day of treatment. The test compounds were administered orally at 1 to 30 mg/kg/day dose for 15 days. Control group animals were treated with vehicle (Mill Q water, dose 10 ml/kg/day). BodV Wei"^** H/(»r , Formulae for calculation : 1. Percent reduction in Blood sugar / triglycerides / total cholesterol / body weight were calculated according to the formula: Percent reduction (%) = I - TT/OT X 100 TC/OC OC = Zero day control group value OT = Zero day treated group value TC = Test day control group value TT = Test day treated group value 2. LDL and VLDL cholesterol levels were calculated according to the formula: LDL cholesterol in mg/dl = Total cholesterol - HDL cholesterol - Triglyceride 5 VLDL cholesterol in mg/dl = Total cholesterol - HDL cholesterol - LDL cholesterol its derivatives, its analogs, its tautomeric forms, its stereoisomers, its polymorphs, its pharmaceutically acceptable salts, its pharmaceutically acceptable solvates, wherein the groups R1, R2 R3 R4 and the groups R5 and R6 when attached to a carbon atom, may be same or different and represent hydrogen, halogen, hydroxy, nitro, cyano, formyl or optionally substituted groups selected from alkyl, cycloalkyl, alkoxy, cycloalkoxy, aryl, aryloxy, aralkyl. aralkoxy, heterocyclyl, heteroaryl, heteroaralkyl, heteroaryloxy, heteroaralkoxy, acyl, acyloxy, hydroxyalkyl, amino, acylamino, alkylamino, arylamino, aralkylamino, aminoalkyl, alkoxycarbonyl, aryloxycarbonyl, aralkoxycarbonyl, alkoxyalkyl, aryloxyalkyl, aralkoxyalkyl, alkylthio, thioalkyl, alkoxycarbonylamino, aryloxycarbonylamino, aralkoxycarbonylamino, carboxylic acid or its derivatives, or sulfonic acid or its derivatives; one or both of R5 and R6 may represent an oxo group when attached to a carbon atom; R5 and R6 when attached to a nitrogen atom represents hydrogen, hydroxy, formyl or optionally substituted groups selected from alkyl, cycloalkyl, alkoxy, cycloalkoxy, aryl, aralkyl, heterocyclyl, heteroaryl, heteroaralkyl, acyl, acyloxy, hydroxyalkyl, amino, acylamino, alkylamino, arylamino, aralkylamino, aminoalkyl, aryloxy, aralkoxy, heteroaryloxy, heteroaralkoxy, alkoxycarbonyl, aryloxycarbonyl, aralkoxycarbonyl, alkoxyalkyl, aryloxyalkyl, aralkoxyalkyl, alkylthio, thioalkyl groups, carboxylic acid derivatives, or sulfonic acid derivatives; X represents a heteroatom selected from oxygen, sulfur or NR" where R" is selected from hydrogen, or optionally substituted alkyl, cycloalkyl, aryl, aralkyl, acyl, alkoxycarbonyl, aryloxycarbonyl, or aralkoxycarbonyl group; Ar represents an optionally substituted divalent single or fused aromatic or heterocyclic group; R7 represents hydrogen atom, hydroxy, alkoxy, halogen, lower alkyl, optionally substituted aralkyl group or forms a bond together with adjacent group R5; R8 represents hydrogen, hydroxy, alkoxy, halogen, lower alkyl group, acyl, or optionally substituted aralkyl or R8 forms a bond together with R7; R9" represents hydrogen, or optionally substituted groups selected from alkyl, cycloalkyl, aryl, aralkyl, alkoxyalkyl, alkoxycarbonyl, aryloxycarbonyl, alkylaminocarbonyl, arylaminocarbonyl, acyl, heterocyclyl, heteroaryl, or heteroaralkyi groups; R1° represents hydrogen or optionally substituted groups selected from alkyl, cycloalkyl, aryl, aralkyl, heterocyclyl, heteroaryl, or heteroaralkyi groups; Y represents oxygen or NR*^, where R12 represents hydrogen, alkyl, aryl, hydroxyalkyl, aralkyl, heterocyclyl, heteroaryl, or heteroaralkyi groups; R10 and R12 together may form a 5 or 6 membered cyclic structure containing carbon atoms, which may optionally contain one or more heteroatoms selected from oxygen, sulftir or nitrogen; the linking group represented by- (CH2)n-(0)ni- may be attached either through a nitrogen atom or a carbon atom; n is an integer ranging from 1-4 and m is an integer 0 or 1. 2. A compoimd according to claim 1, wherein when the groups represented by R"-R"* and the groups R5 and R6 when attached to a carbon atom are substituted, the substituents are selected from halogen, hydroxy, or nitro or optionally substituted groups selected from alkyl, cycloalkyl, alkoxy, cycloalkoxy. aryl, aralkyl, aralkoxyalkyl, heterocyclyl, heteroaryl, heteroaralkyi, acyl, acyloxy, hydroxyalkyl, amino, acylamino, arylamino, aminoalkyl, aryloxy, alkoxycarbonyl, alkylamino, alkoxyalkyl. alkylthio, thioalkyl, carboxylic acid or its derivatives, or sulfonic acid or its derivatives. 3. A compoimd according to claim 1, wherein when the groups R5 and R6 attached to nitrogen are substituted, the substituents are selected from halogen atoms, hydroxy, acyl, acyloxy, or amino groups. 4. A compound according to claim 1, wherein Ar represents optionally substituted divalent phenylene, naphthylene, pyridyl, quinolinyl, benzofuranyl, dihydrobenzofiiryl, benzopyranyl, dihydrobenzopyranyl, indolyl, indolinyl, azaindolyl, azaindolinyl, pyrazolyl, benzothiazolyl, or benzoxazolyl groups. 5. A compound according to claim 1, wherein the substituents on the group represented by R^ are selected from halogen, hydroxy, or nitro or optionally substituted groups selected from alkyl, cycloalkyl, alkoxy, cycloalkoxy, aryl, aralkyl, aralkoxyalkyl, heterocyclyl, heteroaryl, heteroaralkyi, acyl, acyloxy, hydroxyalkyl, amino, acylamino, arylamino, aminoalkyl, aryloxy, alkoxycarbonyl, alkylamino, alkoxyalkyl, alkylthio, thioalkyl groups, carboxylic acid or its derivatives, or sulfonic acid or its derivatives. 6. A process for the preparation of compound of formula (I) wherein Y represents oxygen and R and R each represents hydrogen and all other symbols are as defined in claim 1, 4 in presence of gaseous hydrogen and a metal catalyst in a solvent at a pressure atmospheric pressure to 80psi. 7. A process for the preparation of compound of formula (I) wherein m is 1 and all other symbols are as defined in claim 1, a) reacting compound of formula (Illh) wherein L is a leaving group m presence of a base and solvent at a temperature range from20°Ctol50°C 9. A compound according to claim 1, which is selected from: Ethyl (E/Z)-3- [4- [2- (2, 3-dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2- ethoxypropenoate; (+) Methyl 3- [4- [2- (2, 3-dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2- ethoxypropanoate; (+) Methyl 3- [4- [2- (2, 3-dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2- ethoxypropanoate; (-) Methyl 3- [4- [2- (2, 3-dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2- ethoxypropanoate; Ethyl (E/Z)-3-[2-(2, 3-dihydro-l, 4-benzoxazin-4-yl) methyIbenzofiiran-5-yI]-2- ethoxypropenoate; Ethyl (E/Z)-3- [4- [2- (2, 3-dihydro-l,4-benzothiazin-4-yI) ethoxy] phenyl]-2- ethoxypropenoate; (±) Methyl 3- [2- (2, 3-dihydro-l,4-benzoxazin-4-yl) methylbenzofuran-5-yl]-2- ethoxypropanoate; (+) Methyl 3- [2- (2, 3-dihydro-l,4-benzoxazin-4-yl) methylbenzofiiran-5-yl]-2- ethoxypropanoate; (-) Methyl 3- [2-(2, 3-dihydro-l, 4-benzoxazin-4-yl) methylbenzofuran-5-yl]-2- ethoxypropanoate; (±) Methyl-3- [4- [2- (2, 3-dihydro-l,4-benzothiazin-4-yl) ethoxy] phenyl]-2- ethoxypropanoate; (+) Methyl-3- [4- [2- (2, 3-dihydro-l, 4-benzothiazin-4-yl) ethoxy] phenyl]-2- ethoxypropanoate; (-) Methyl-3- [4- [2- (2, 3-dihydro-l, 4-benzothiazin-4-yl) ethoxy] phenyl]-2- ethoxypropanoate; (±) Methyl 2-methyl-3- [4- [2- (2, 3-dihydro-l, 4-benzoxazin-4-yl) ethoxy] phenyl]-2- ethoxypropanoate; (+) Methyl 2-methyl-3- [4- [2- (2, 3-dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2- ethoxypropanoate; (-) Methyl 2-methyl-3- [4- [2- (2, 3-dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2- ethoxypropanoate; (±) Methyl 2- (2-fluorobenzyl)-3- [4- [2- (2, 3-dihydro-1.4-benzoxazin-4-yl) ethoxy] phenyl]-2-ethoxypropanoate; (+) Methyl 2- (2-fluorobenzyl)-3- [4- [2- (2, 3-dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2-ethoxypropanoate; (-) Methyl 2- (2-fluorobenzyl)-3- [4- [2- (2, 3-dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2-ethoxypropanoate; Ethyl (E/Z)-3- [4- [2- (3-oxo-2H-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2-ethoxy- propenoate; (±) Methyl 3- [4- [2- (3-oxo-2H-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2-ethoxy- propanoate; (+) Methyl 3- [4- [2- (3-oxo-2H-l, 4-benzoxa2in-4-yl) ethoxy] phenyl]-2-ethoxy- propanoate; (-) Methyl 3- [4- [2- (3-oxo-2H-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2-ethoxy- propanoate; Ethyl (E/Z)-3- [6- [2- (2, 3-dihydro-l, 4-benzothiazin-4-yl) ethoxy] naphthyl]-2- ethoxypropenoate; (+) Methyl 3- [6- [2- (2, 3-dihydro-l,4-benzothiazin-4-yl) ethoxy] naphthyl]-2- ethoxypropanoate; (+) Methyl 3- [6- [2- (2, 3-dihydro-l,4-benzothiazin-4-yI) ethoxy] naphthyl]-2- ethoxypropanoate; (-) Methyl 3- [6- [2- (2,3-dihydro-l,4-benzothiazin-4-yl) ethoxy] naphthyl]-2- ethoxypropanoate; Ethyl 3- [4- [2- (2, 3-dihydro-l, 4-benzoxazin-4-yl) ethoxy] phenyl]-2-hydroxy- propanoate; Ethyl 3- [4- [2- (2, 3-dihydro-l, 4-benzothiazin-4-yl) ethoxy] phenyl]-2-hydroxy- propanoate; Ethyl 3- [4-[2-(2, 3-dihydro-l, 4-benzoxazin-4-yl) ethoxy] phenyl]-2-benzyloxy- propanoate; Ethyl 3- [4- [2- (2, 3-dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2-butoxy- propanoate; Ethyl 3- [4- [2- (2, 3-dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2-hexyloxy propanoate; Ethyl (E/Z)-3- [4- [2- (2, 3-dihydro-l, 4-benzoxazin-4-yl) ethoxy] phenyl]-2- phenoxypropenoate; (±) Methyl 3- [4- [2- (2, 3-dihydro-l, 4-beiLzoxazin-4-yl) ethoxy] phenyl]-2- phenoxypropanoate; (+) Methyl 3- [4- [2- (2, 3-dihydro-l, 4-benzoxazin-4-yl) ethoxy] phenyl]-2- phenoxypropanoate; (-) Methyl 3- [4- [2- (2, 3-dihydro-l, 4-benzoxazin-4-yl) ethoxy] phenyI]-2- phenoxypropano ate; Ethyl (E/Z)-3- [4- [2- (2, 3-dihydro-l, 4-benzothiazin-4-yl) ethoxy] phenyl]-2- phenoxypropenoate; (±) Methyl 3- [4- [2- (2, 3-dihydro-l, 4-benzothia2in-4-yl) ethoxy] phenyl]-2- phenoxypropanoate; (+) Methyl 3- [4- [2- (2, 3-dihydro-l, 4-benzothiazin-4-yl) ethoxy] phenyl]-2- phenoxypropanoate; (-) Methyl 3- [4- [2- (2, 3-dihydro-l, 4-benzothiazin-4-yl) ethoxy] phenyl]-2- phenoxypropanoate; Ethyl (E/Z)-3- [4- (4-methyl-3, 4-dihydro-2H-l,4-benzoxazin-2-yl) methoxyphenyl]-2- ethoxypropenoate; (±) Methyl 3- [4- (4-methyl-3,4-dihydro-2H-l, 4-benzoxazin-2-yl) methoxyphenyl]-2- ethoxypropanoate; (+) Methyl 3- [4- (4-methyl-3,4-dihydro-2H-l,4-benzoxazin-2-yl) methoxyphenyl]-2- ethoxypropanoate; (-) Methyl 3- [4- (4-methyl-3, 4-dihydro-2H-l,4-benzoxazin-2-yl) methoxyphenyl]-2- ethoxypropanoate; Ethyl (E/Z)-3- [4- (4-benzyl-3, 4-dihydro-2H-l, 4-benzoxazin-2-yl) methoxyphenyl]-2- ethoxypropenoate; (±) Methyl 3- [4- (4-benzyl-3, 4-dihydro-2H-l, 4-benzoxazin-2-yl) methoxyphenyl]-2- ethoxypropanoate; (+) Methyl 3- [4- (4-benzyl-3,4-dihydro-2H-l,4-benzoxazin-2-yl) methoxyphenyl]-2- ethoxypropanoate; (-) Methyl 3- [4- (4-benzyl-3, 4-dihydro-2H-l,4-benzoxazin-2-yl) methoxyphenyl]-2- ethoxypropanoate; (±) 3- [4- [2- (2. 3-Dihydro-l, 4-benzoxazin-4-yl) ethoxy] phenyl]-2-ethoxypropanoic acid and its salts; (+) 3- [4- [2- (2. 3-Dihydro-l, 4-benzoxazin-4-yl) ethoxy] phenyl]-2-ethoxypropanoic acid and its salts; (-) 3- [4- [2- (2. 3-Dihydro-l, 4-benzoxazin-4-yl) ethoxy] phenyl]-2-ethoxypropanoic acid and its salts; (±) 3- [2- (2, 3-Dihydro-l,4-benzoxazin-4-yl) methylbenzofuran-5-yl]-2-ethoxypropanoic acid and its salts; (+) 3-[2-(2,3-Dihydro-l, 4-benzoxazin-4-yl) methylbenzofiiran-5-yl]-2-ethoxy- propanoic acid and its salts; (-) 3- [2- (2, 3-Dihydro-l,4-benzoxazin-4-yl) methylbenzofuran-5-yl]-2-ethoxy- propanoic acid and its salts; (±) 3- [2- (2, 3-Dihydro-l, 4-benzothiazin-4-yl) methylbenzofuran-5-yl]-2-ethoxy- propanoic acid and its salts; (+) 3- [2- (2, 3-Dihydro-l,4-benzothiazin-4-yl) methylbenzofuran-5-yl]-2-ethoxy- propanoic acid and its salts; (-) 3- [2- (2, 3-Dihydro-l,4-benzothiazin-4-yl) methylbenzofuran-5-yl]-2-ethoxy- propanoic acid and its salts; (±) 3- [4- [2- (2,3-Dihydro-l,4-benzothiazin-4-yl) ethoxy] phenyl]-2-ethoxy- propanoic acid and its salts; (+) 3- [4- [2- (2,3-Dihydro-l,4-benzothiazin-4-yl) ethoxy] phenyl]-2-ethoxy- propanoic acid and its salts; (-) 3- [4- [2- (2, 3-Dihydro-l, 4-benzothiazin-4-yl) ethoxy] phenyl]-2-ethoxy- propanoic acid and its salts; (±) 3- [4- [2- (2,3-Dihydro-l,4-benzothiazin-4-yl) ethoxy] phenyl]-2-ethoxy- propanamide; (+) 3- [4- [2- (2, 3-Dihydro-l, 4-benzothiazin-4-yl) ethoxy] phenyl]-2-ethoxy- propanamide; (-) 3- [4- [2- (2, 3-Dihydro-l, 4-benzothiazin-4-yl) ethoxy] phenyl]-2-ethoxy- propanamide; (±) N-Methyl-3- [4- [2- (2, 3-dihydro-l, 4-benzothiazin-4-yl) ethoxy] phenyl]-2- ethoxypropanamide; (+) N-Methyl-3- [4- [2- (2, 3-dihydro-l,4-benzothiazin-4-yl) ethoxy] phenyl]-2- ethoxypropanamide; (-) N-Methyl-3- [4- [2- (2, 3-dihydro-l,4-benzothiazin-4-yl) ethoxy] phenyl]-2- ethoxypropanamide; (±) 3- [4- [2- (2, 3-Dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2-ethoxy- propanamide; (+) 3- [4- [2- (2,3-Dihydro-l,4-benzoxazm-4-yl) ethoxy] phenyl]-2-ethoxy- propanamide; (-) 3- [4- [2- (2,3-Dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2-ethoxy- propanamide; (±) N-Methyl-3- [4- [2- (2,3-dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2- ethoxypropanamide; (+) N-Methyl-3- [4- [2- (2, 3-dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2- ethoxyprop anamide; (-) N-Methyl-3- [4- [2- (2, 3-dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2- ethoxypropanamide; (±) N-Benzyl-3- [4- [2- (2, 3-dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2- ethoxyprop anamide; (+) N-Benzyl-3- [4- [2- (2, 3-dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2- ethoxypropanamide; (-) N-Benzyl-3- [4- [2- (2,3-dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2- ethoxypropanamide; (±) N-Benzyl-3- [4- [2- (2, 3-dihydro-l,4-benzothiazin-4-yl) ethoxy] phenyl]-2- ethoxypropanamide; (+) N-Benzyl-3- [4- [2- (2, 3-dihydro-l, 4-benzothiazin-4-yl) ethoxy] phenyl]-2- ethoxypropanamide; (-) N-Benzyl-3- [4-[2-(2, 3-dihydro-l, 4-benzothiazin-4-yl) ethoxy] phenyl]-2- ethoxypropanamide; 2-Methyl-3- [4- [2- (2,3-dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2-ethoxy- propanoic acid and its salts; 2- (2-Fluorobenzyl)-3- [4- [2- (2, 3-dihydro-l, 4-benzoxazin-4-yl) ethoxy] phenyl]-2- ethoxypropanoic acid and its salts; (±) 3- [4- [2- (3-Oxo-2H-l,4-benzoxazm-4-yl) ethoxy] phenyl]-2-ethoxypropanoic acid and its salts; (+) 3- [4- [2- (3-Oxo-2H-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2-ethoxypropanoic acid and its salts; (-) 3- [4- [2- (3-Oxo-2H-l,4-ben20xazin-4-yl) ethoxy] phenyl]-2-ethoxypropanoic acid and its salts; (±) 3- [4- [2- (3-Oxo-2H-l,4-benzothiazin-4-yl) ethoxy] phenyl]-2-ethoxypropanoic acid and its salts; (+) 3- [4- [2- (3-Oxo-2H-l,4-benzothiazin-4-yl) ethoxy] phenyl]-2-ethoxypropanoic acid and its sahs; (-) 3- [4- [2- (3-Oxo-2H-l,4-benzothiazin-4-yl) ethoxy] phenyl]-2-ethoxypropanoic acid and its salts; (±) 3- [6- [2- (2, 3-Dihydro-l,4-benzoxazin-4-yl) ethoxy] naphthyl]-2-ethoxy- propanoic acid and its salts; (+) 3- [6- [2- (2, 3-Dihydro-l, 4-benzoxazin-4-yl) ethoxy] naphthyl]-2-ethoxy- propanoic acid and its salts; (-) 3- [6- [2- (2, 3-Dihydro-l,4-benzoxazin-4-yI) ethoxy] naphthyl]-2-ethoxy- propanoic acid and its salts; (±) 3- [6- [2- (2, 3-Dihydro-l,4-benzothiazin-4-yl) ethoxy] naphthyl]-2-ethoxy- propanoic acid and its salts; (+) 3- [6- [2- (2, 3-Dihydro-l,4-benzothiazin-4-yl) ethoxy] naphthyl]-2-ethoxy- propanoic acid and its salts; (-) 3- [6- [2- (2, 3-Dihydro-l,4-benzothiazin-4-yl) ethoxy] naphthyl]-2-ethoxy- propanoic acid and its salts; (±) 3- [4- [2-(2, 3-Dihydro-l, 4-benzoxazin-4-yl) ethoxy] phenyl]-2-hydroxy- propanoic acid and its salts; (+) 3- [4- [2- (2, 3-Dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2-hydroxy- propanoic acid and its salts; (-) 3- [4- [2- (2, 3-Dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2-hydroxy- propanoic acid and its salts; (±) 3- [4- [2- (2, 3-Dihydro-l,4>benzothiazin-4-yl) ethoxy] phenyl]-2-hydroxy- propanoic acid and its salts; (+) 3- [4- [2- (2, 3-Dihydro-l,4-benzothiazin-4-yl) ethoxy] phenyl]-2-hydroxy- propanoic acid and its salts; (-) 3- [4- [2- (2,3-Dihydro-l,4-benzothiazin-4-yl) ethoxy] phenyl]-2-hydroxy- propanoic acid and its salts; (±) 3- [4- [2- (2, 3-Dihydro-l, 4-benzoxazin-4-yl) ethoxy] phenyl]-2-benzyloxy- propanoic acid and its salts; (+) 3- [4- [2- (2,3-Dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2-benzyloxy- propanoic acid and its salts; (-) 3- [4- [2- (2, 3-Dihydro-l, 4-benzoxazin-4-yl) ethoxy] phenyl]-2-benzyloxy- propanoic acid and its salts; (±) 3- [4- [2- (2, 3-Dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2-butoxy- propanoic acid and its salts; (+) 3- [4- [2- (2, 3-Dihydro-l, 4-benzoxazin-4-yl) ethoxy] phenyl]-2-butoxy- propanoic acid and its salts; (-) 3- [4- [2- (2, 3-Dihydro-l, 4-benzoxazin-4-yl) ethoxy] phenyl]-2-butoxy- propanoic acid and its salts; (±) 3- [4- [2- (2, 3-Dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2- hexyloxypropanoic acid and its salts; (+) 3- [4- [2- (2,3-Dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2- hexyloxypropanoic acid and its salts; (-) 3- [4- [2- (2, 3-Dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2-hexyloxy- propanoic acid and its salts; (±) 3- [4- [2- (2,3-Dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2-phenoxy- propanoic acid and its salts; (+) 3- [4- [2- (2,3-Dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2-phenoxy- propanoic acid and its salts; (-) 3- [4- [2- (2, 3-Dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2-phenoxy- propanoic acid and its salts; (±) [4- [2- (2, 3-Dihydro-l, 4-benzothiazin-4-yl) ethoxy] phenyl]-2-phenoxy- propanoic acid and its salts; (+) 3- [4- [2- (2, 3-Dihydro-l, 4-benzothiazin-4-yl) ethoxy] phenyl]-2-phenoxy- propanoic acid and its salts; (-) 3- [4- [2- (2,3-Dihydro-l,4-benzothiazin-4-yl) ethoxy] phenyl]-2-phenoxy- propanoic acid and its salts; (±) Methyl 2-methyl-3- [4- [2- (2, 3-dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl] -2- phenoxypropanoate; (+) Methyl 2-methyl-3- [4- [2- (2, 3-dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl] -2- phenoxypropanoate; (-) Methyl 2-methyl-3- [4- [2- (2, 3-dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl] -2- phenoxypropanoate; (±) 2-Methyl-3- [4- [2- (2, 3-dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2- phenoxypropanoic acid and its salts; (+) 2-Methyl-3- [4- [2- (2,3-dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2- phenoxypropanoic acid and its salts; (-) 2-Methyl-3- [4- [2- (2,3-dihydro-l,4-benzoxazin-4-yl) ethoxy] phenyl]-2- phenoxypropanoic acid and its salts; (±) Methyl 2-methyl-3- [4- [2- (2,3-dihydro-l,4-benzothiazin-4-yl) ethoxy] phenyl]-2- phenoxypropano ate; (+) Methyl 2-methyl-3- [4- [2- (2, 3-dihydro-l,4-benzothiazin-4-yl) ethoxy] phenyl]-2- phenoxypropano ate; (-) Methyl 2-methyl-3- [4- [2- (2,3-dihydro-l,4-benzothiazin-4-yl) ethoxy] phenyl]-2- phenoxypropanoate; (±) 2-Methyl-3- [4- [2- (2,3-dihydro-l,4-benzothiazin-4-yl) ethoxy] phenyl]-2-phenoxy propanoic acid and its salts; (+) 2-Methyl-3- [4- [2- (2, 3-dihydro-l,4-benzothiazin-4-yl) ethoxy] phenyl]-2-phenoxy propanoic acid and its salts; (-) 2-Methyl-3- [4- [2- (2, 3-dihydro-l,4-benzothiazin-4-yl) ethoxy] phenyl]-2-phenoxy propanoic acid and its salts; (±) 4-Nitrophenyl 3- [4- [2- (2, 3-dihydro-l,4-benzothiazin-4-yl) ethoxy] phenyl]-2- ethoxy propanoate; (+) 4-NitrophenyI 3- [4- [2- (2, 3-dihydro-l,4-benzothiazin-4-yI) ethoxy] phenyl]-2- ethoxy propanoate; (-) 4-Nitrophenyl 3- [4- [2- (2, 3-dihydro-l,4-benzothiazin-4-yl) ethoxy] phenyl]-2- ethoxy propanoate; (±) 3- [4- (4-Benzyl-3, 4-dihydro-2H-l,4-ben20xazin-2-yl) methoxyphenyl]-2- ethoxypropanoic acid and its salts; (+) 3- [4- (4-Benzyl-3, 4-dihydro-2H-l,4-benzoxazin-2-yl) methoxyphenyl]-2- ethoxypropanoic acid and its salts; (-) 3- [4- (4-Benzyl-3, 4-dihydro-2H-l, 4-benzoxazin-2-yl) methoxyphenyl]-2- ethoxypropanoic acid and its salts; (±) 4-Nitrophenyl-3- [4- (4-benzyl-3,4-dihydro-2H-l,4-benzoxazin-2-yl) methoxy phenyl]-2-ethoxypropanoate; (+) 4-Nitrophenyl-3- [4- (4-benzyl-3,4-dihydro-2H-l,4-benzoxazin-2-yl) methoxy phenyl]-2-ethoxypropanoate; and (-) 4-Nitrophenyl-3- [4- (4-benzyl-3,4-dihydro-2H-l, 4-benzoxazin-2-yl) methoxy phenyl]-2-ethoxypropanoate. 10. A pharmaceutical composition which comprises a compoimd of formula (I) 11. A pharmaceutical composition as claimed in claim 19, in the form of a tablet, capsule, powder, syrup, solution or suspension. |
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2417-mas-1997 claims duplicate.pdf
2417-mas-1997 correspondence others.pdf
2417-mas-1997 correspondence po.pdf
2417-mas-1997 description (complete) duplicate.pdf
2417-mas-1997 description (complete).pdf
2417-mas-1997 description (provisional).pdf
| Patent Number | 211756 | |||||||||||||||||||||
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| Indian Patent Application Number | 2417/MAS/1997 | |||||||||||||||||||||
| PG Journal Number | 52/2007 | |||||||||||||||||||||
| Publication Date | 28-Dec-2007 | |||||||||||||||||||||
| Grant Date | 09-Nov-2007 | |||||||||||||||||||||
| Date of Filing | 27-Oct-1997 | |||||||||||||||||||||
| Name of Patentee | DR. REDDY'S LABORATORIES LTD | |||||||||||||||||||||
| Applicant Address | 7-1-27 AMEERPET, HYDERABAD 500 016, | |||||||||||||||||||||
Inventors:
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| PCT International Classification Number | C07 D 239/00 | |||||||||||||||||||||
| PCT International Application Number | N/A | |||||||||||||||||||||
| PCT International Filing date | ||||||||||||||||||||||
PCT Conventions:
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