| Title of Invention | NOVEL ALKOXY PROPIONIC ACID COMPOUNDS AND THEIR DERIVATIVES, PROCESS FOR THEIR PREPARATION AND PHARMACEUTICAL COMPOSITIONS CONTAINING THEM |
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| Abstract | The present invention relates to novel alkoxy propionic acid and their pharmaceutical accetable salts having use as antidiabetic,hypolipidemic,antiobesity and hypocholesterolemic compounds. The invention also relates to a process for the preparation of above said novel compounds and phamaceutically acceptable salts. |
| Full Text | Field of the Invention The present invention relates to novel antidiabetic, hypolipidemic, antiobesity and hypocholesterolemic compounds of formula (I), their derivatives, their analogs, their tautomeric forms, their stereoisomers, their polymorphs, their pharmaceutically acceptable salts, their pharmaceutically acceptable solvates and pharmaceutically acceptable compositions containing them. More particularly, the present invention relates to compounds of the general formula (I) which are predominantly PPAR a agonists, their derivatives, their analogs, their tautomeric forms, their stereoisomers, their polymorphs, their pharmaceutically acceptable salts, their pharmaceutically acceptable solvates and pharmaceutically acceptable compositions containing them wherein R represents hydrogen, hydroxy, halogen, linear or branched (C1-C12) alkyl, linear or branched (C1-C12) alkoxy, substituted or unsubstituted arylalkyl group or forms a bond together with the adjacent group R ; R2 represents hydrogen; halogen, linear or branched (C1-C12) alkyl, linear or branched (C1-C12) alkoxy, (C1-C12) alkanoyl, aroyi, arylalkanoyl, substituted or unsubstituted arylalkyl or R2 forms a bond together with R1; R3 represents hydrogen atom or substituted or unsubstituted groups selected from linear or branched (C1-C12)alkyl, cycloalkyl, cycloalkylalkyl, cycloalkenyl, aryl, (C1-C12)alkanoyl, aroyl, arylalkyl, arylalkanoyl, heterocyclyl, heteroaryl, heteroarylalkyi, alkoxyalkyl, alkoxycarbonyl, aryloxycarbonyl, alkylaminocarbonyl or arylaminocarbonyl groups; R4 represents hydrogen or substituted or unsubstituted groups selected from linear or branched (C1-C12) alkyl, cycloalkyl, aryl, arylalkyl, heterocyclyl, heteroaryl or heteroarylalkyi groups; Y represents oxygen or NR7 or N(R7)O, where R7 represents hydrogen or substituted or unsubstituted groups selected from linear or branched (C1-C12) alkyl, aryl, arylalkyl, hydroxyalkyl, alkanoyl, aroyl, arylalkanoyl, heterocyclyl, heteroaryl. heteroarylalkyl, alkoxycarbonyl or arylalkoxycarbonyl groups; R4 and R7 together may form a substituted or unsubstituted 5 or 6 membered cyclic structure containing carbon atoms, a nitrogen atom, which may optionally contain one or more additional heteroatoms selected from oxygen, sulfur or nitrogen; R represents hydrogen or substituted or unsubstituted groups selected from alkyl, alkenyl, cycloalkyi, cycloalkylalkyl, aryl, arylatkyl, aroyl or aralkanoyl group; Ar represents substituted or unsubstituted groups selected from divalent phenylene, naphthylene, pyridyl, quinolinyl, benzofiiryl, dihydrobenzofuryl, benzopyranyl, dihydrobenzopyranyl, indolyl, indolinyl, azaindolyl, azaindolinyl, pyrazolyl, benzothiazolyl, benzoxazolyl and the like. X represents -C(=O)-, -C(=S)-, -C(=S)-O, -C(=O)-O-, -C(=O)-S-, -O-(CH2)d-, -NH~(CH2)d-, -O-C(=O)-, -C(O)CH2-, -CRaCRb-CH2; -CRaCRb-CO- where Ra and RB may be same or different and represent hydrogen or (C1-C6)alky), d is an integer of 1 to 4 or X represents a bond; R6 represents substituted or unsubstituted group selected from aryloxycarbonyl, arylalkoxycarbonyl, alkylcarbonyloxy, alkoxycarbonylamino, aryloxycarbonylamino, arylalkoxycarbonylamino, fluorenylmethoxycarbonyl (Fmoc), fluorenylmethoxycarbonylamino (N-Fmoc), -OSO2R8 -OCONR8R9, NR8COOR9 -NR8COR9 -NR8SO2R9 NR8CONR9R10, -NR8CSNR8R9, ~S02R8 -SOR8 -SR8 -SO3NR8R9 -SO2OR8 -COOR9 -COR9 or -CONR8R9 wherein R8 R9 and R10 may be the same or different and independently represent hydrogen, or substituted or unsubstituted alkyl, aryl, arylalkyl, alkoxycarbonyl or arylalkoxycarbonyl; R8 and R9 when present on nitrogen atom together may form a 5 or 6 membered cyclic structure containing carbon atoms and one or more heteroatoms selected from oxygen, sulfur or nitrogen. R is hydrogen, when R13 is at the third position of the phenyl ring and does not represent hydrogen. R13 represents hydrogen, halogen, nitro, cyano, amino, haloalkyl, hydroxy or substituted or unsubstituted group selected from linear or branched (C1-C12)alkyl, aryl, arylalkyl, heteroaryl, heteroarylalkyl, heterocyclyl, alkoxy, monoalkylamino, dialkylamino, alkoxycarbonyl, aryloxycarbonyl, arylalkoxycarbonyl, aryloxy. arylalkoxy, alkylcarbonyloxy, alkoxycarbonylamino, aryloxycarbonylamino, aryiaikoxycarbonyiamino, fluorenylmethoxycarbonyl (Fmoc), fluorenylmethoxycarbonylaraino (N-Fmoc), -OSO2R8 -OCONR8R9 NR8COOR9 -NR8COR9 -NRV, -NR8SO2R9 NR8CONR9R10, -NR8CSNR8R9 -SOIRK -SOR^ -SR^ -S02NR8 R9 -S020R^ -COOR^ -COR^ -CONR8R9 wherein R8R9 and R"" may be same or different and independently represent hydrogen, or substituted or unsubstituted alkyl, aryl, arylalkyl, alkoxycarbonyl or arylalkoxycarbonyl; R8 and R9 when present on nitrogen atom together may form a 5 or 6 membered cychc structure containing carbon atoms and one or more heteroatoms selected from oxygen, sulftir or nitrogen. m is an integer from 0 to 6 and n is an integer from 0 to 6. The present invention also relates to a process for the preparation of the above said compounds, their analogs, their derivatives, their tautomeric forms, their stereoisomers, their polymorphs, their pharmaceuticalty acceptable salts, their pharmaceutically acceptable solvates and pharmaceutical compositions containing them. The present invention also relates to novel intermediates^ processes for their preparation, their use in the preparation of compounds of formula (I) and their use as antidiabetic, hypolipidemic, antiobesity and hypocholesterolemic compounds. The compounds of the present invention lower plasma glucose, triglycerides, insulin, lower total cholesterol (TC) and increase high density lipoprotein (HDL) and decrease low density lipoprotein (LDL), which have a beneficial effect on coronary heart disease and atherosclerosis. The compotinds of general formula (I) are useful in reducing body weight and for the treatment and/or prophylaxis of diseases such as atiierosclerosis, stroke, peripheral vascular diseases and related disorders. These compounds are useful for the treatment of hyperlipidemia, hyperglycemia, hypercholesterolemia, lowering of atherogenic lipoproteins, VLDL (very low density lipoprotein) and LDL. The compounds of the present invention can be used for the treatment of renal diseases including glomerulonephritis, glomerulosclerosis, nephrotic syndrome, hypertensive nephrosclerosis and nephropathy. The compounds of general formula (1) are also usefiil for the treatment and/or prophylaxis of leptin resistance, impaired glucose tolerance, 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, retinopathy, xanthoma, eating disorders, inflammation and for the treatment of cancer. The compounds of the present invention are also useful in the treatment and/or prophylaxis of the above said diseases in combination/concomittant with one or more of HMG CoA reductase inhibitor; cholesterol absorption inhibitor; antiobesity drug; lipoprotein disorder treatment dmg; hypoglycemic agent; insulin; biguanide; sulfonylurea; thiazolidinedione; dual PPARa and y agonis or a mixture thereof. Background of the Invention Atherosclerosis and other peripheral vascular diseases affect the quality of life of millions of people. Therefore, considerable attention has been directed towards understanding the etiology of hypercholesterolemia and hyperlipidemia 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 the cholesterol is present in the esterified forms with various lipoproteins such as Low density lipoprotein (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 atherosclerosis with serum HDL-cholesterol concentrations (Stampfer et al. N. Engl. J. Med, 325 (1991), 373-381). 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 el al., (Br. Med. J.. 282 (1981), 174J-I744) 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-cholesterol may protect against the progression of atherosclerosis. Picardo el 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 it to liver, which is known as reverse cholesterol transport, (Macikinnon et al. J. Biol. chem. 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, osteoarthritis, reduced fertility and many other psychological and social problems. Diabetes and/or insulin resistance is yet another disease which severely effects the quality of 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 raises 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 iJ. Clin. Invest., 15 (1985) 809-817; K Engl J. Med 317 (1987) 350-357; J. Clin. Endocrinol. Metab., 66 (1988) 580-583; J. Clin. Invest.. 68 (1975) 957 - 969) and other renal complications (patent publication 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 hyperlipidemia. Patients having glucose intolerance/insulin resistance in addition to hyperlipidemia 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 (PPARs) are orphan receptors belonging to the steroid/retinoid receptor super family of ligand activated transcription factors. (Wilson T. M. and Wahh W., Curr. Opin. Chem. Biol., 1997, Vol. 1, 235-241). Three mammalian Peroxisome Proliferator Activated Receptors (PPARs) have been isolated and termed PPAR-a, PPAR-Y and PPAR-5. These PPARs regulate expression of target genes by binding to DNA sequence elements. Certain compounds that activate or otherwise interact with one or more of the PPARs have been implicated in the regulation of triglyceride and cholesterol levels in animal models. {U.S. patents 5,847,008; 5,859,051 and PCT publications WO 97/28149; WO 99/04815. A wealth of information exists on the influence of PPAR a agonists on the cardiovascular risk profile for example fibrate class of compounds which are weak PPAR-a agonists correct atherogenic dyslipoproteinemia. Several angiographic intervention trials have demonstrated a beneficial action of these drugs on atherosclerotic lesion progression and results from primary and secondary prevention trials show a decreased incidence of cardiovascular events. (Ricote M. and Glass C. K.; Trends in Pharmacological Sciences; 2001; 22(9); 441-443. Despite the fact that fibrates, which are weak PPAR-a activators, reduce the plasma triglyceride levels and elevate the levels of HDL-C simultaneously, they are not the drugs of choice, because of: low efficacy requiring high doses, incidence of Myositis and contra-indicated in patients with impaired renal and hepatic function and in pregnant and nursing women. However there has been rapid progress in the understanding of the role of PPAR-a in different pathophysiological conditions in addition to the well-documented favourable effects on lipid profile. The inflammatory activation of aortic smooth muscle celts, which is the hallmark of atherosclerosis, seems to be inhibited by the enhanced PPAR-a activity. (Vamecq J. and Latmffe N; Lancet; 1999; 354; 141-148). Recent evidence suggests the role of PPAR-a receptors in improving insulin sensitivity. It has been demonsrated that by lowering circulatory and muscle lipids in insulin-resistant rodent models such as obese Zucker rats, high fat-fed mice and sucrose-lard fed rats, PPAR-a ligands improve insulin sensitivity and obesity. Further the lipid lowering activity of the statins has been linked to a cross talk with PPAR-a receptor in addition to limited cholesterol availability. Some clinical trials have shown improvement in insulin sensitivity indices, wherein fibrates were employed. (Guerre-Millo M, Rounalt C. and Poulain P; Diabetes; 2001; 50; 2809-2814, Muoio D. M., Way J. M. and Tanner C. J.; Diabetes; 2002; 51; 901-909, Ye J, Doyle P. J. and Iglesias M. A.; Diabetes; 2001; 50; 411-417, and Roglans N, Sanguino E. and Peris C; JPET; 2002; 302; 232-239). Thus there is an interesting evidence for PPAR-a agonists to be used for lipid control and as per recent evidence even for insulin resistance. Limitations of the currently available medications coupled with the fact that lipid abnormalities are on the rise worldover necessitate the discovery of more potent and safer PPAR-a agonists. In continuation of our research work on PPAR agonists (1150/MAS/96; 2416/MAS/97; 2417/MAS/97; 2417/MAS/97) to address this unmet need, a series of compounds have been synthesized which has been disclosed in the present invention. Prior art A few alkyl carboxylic acids, their derivatives and their analogs have been reported to be useful in the treatment of hyperglycemia and hypercholesterolemia. Some of such compounds described in the prior art are outlined below: i) U.S. Pat. 5,306,726, WO 91/19702 discloses several 3-aryl-2-hydroxypropion!C acid derivatives of general formulas (Ila) and (lib) as hypolipidemic and hypoglycemic agents. Summary of the Invention The objective of the present invention is to provide novel compounds of the general formula (I) having predominantly PPAR a agonistic activity with markedly reduced toxicities associated with PPAR y activation for reducing blood glucose, lipid levels, lowering cholesterol and reducing body weight with beneficial effects in the treatment and/or prophylaxis of diseases related to increased levels of lipids, atherosclerosis, coronary artery diseases, Syndrome-X, impaired glucose tolerance, insulin resistance, insulin resistance leading to type 2 diabetes and diabetic complications thereof, for the treatment of diseases wherein insulin resistance is the pathophysiological mechanism and for the treatment of hypertension, with better efficacy, potency and lower toxicity, we focused 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 aspect of the present invention is therefore, to provide novel alkyl carboxylic acids of the general formula (I), 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 aspect of the present invention is to provide novel alkyl carboxylic acids, their derivatives, their analogs, their tautomeric forms, their stereoisomers, their polymorphs, their pharmaceutically acceptable salts, their ptmrmaceutically acceptable solvates and pharmaceutical compositions containing them or their mixtures which may have agonist activity against PPARa and/or PPAR7, and optionally inhibit HMG CoA reductase, in addition to having agonist activity against PPARa and/or PPARy. Yet another aspect of the present invention is to provide a process for the preparation of alkyl carboxylic acids of formula (I), their derivatives, their analogs, their tautomeric forms, their stereoisomers, their polymorphs, their pharmaceutically acceptable salts and their pharmaceutically acceptable solvates. Still another aspect of ttie present invention is to provide pharmaceutical compositions containing compounds of the general formula (I), their analogs, their derivatives, their tautomers, their stereoisomers, flieir polymorphs, their salts, solvates or their mixtures in combination with suitable carriers, solvents, diluents and other media normally employed in preparing such compositions. Another aspect of the present invention is to provide novel intermediates, a process for their preparation and use of the intermediates in processes for preparation of alkyl carboxylic acids of formula (I), their derivatives, their analogs, their tautomers, their stereoisomers and their use as antidiabetic, hypolipidemic, antiobesity and hypocholesterolemic compounds. R" represents hydrogen, hydroxy, halogen, linear or branched {C1-C12) alkyl, Hnear or branched (C1-C12) alkoxy, substituted or unsubstituted arylalkyl group or forms a bond together with the adjacent group R^; R^ represents hydrogen, halogen, linear or branched (C1-C12) alkyl, linear or branched (C1-C12) alkoxy, (CrCn) alkanoyl, aroyi, arylalkanoyl, substituted or unsubstituted arylalkyl or R^ forms a bond together with R"; R represents hydrogen atom or substituted or unsubstituted groups selected from linear or branched (C|-C]2)alkyl, cycloalkyl, cycloalkylalkyi, cycloalkenyl, aryl, (C|-Ci2)alkanoyl, aroyl, arylalkyl, arylalkanoyl, heterocyclyl, heteroaryl, heteroarylalkyl, alkoxyalkyl, alkoxycarbonyl, aryloxycarbonyl, alkylaminocarbonyl, or arylaminocarbonyl groups; R represents hydrogen or substituted or unsubstituted groups selected from linear or branched (C1-C12) alkyl, cycloalkyl, aryl, arylalkyl, heterocyclyl, heteroaryl or heteroarylalkyl groups; Y represents oxygen or NR or N(R )0, where R represents hydrogen or substituted or unsubstituted groups selected from linear or branched (C1-C12) alkyl, aryl, arylalkyl, hydroxyalkyl, alkanoyl, aroyl, arylalkanoyl, heterocyclyl, heteroaryl, heteroarylalkyl, alkoxycarbonyl or arylalkoxycarbonyl groups; R"" and R" together may form a substituted or unsubstituted 5 or 6 membered cyclic structure containing carbon atoms, a nitrogen atom, which may optionally contain one or more additional heteroatoms selected from oxygen, sulfur or nitrogen; R^ represents hydrogen or substituted or unsubstituted groups selected from alkyl, alkenyl, cycloalkyl, cycloalkylalkyi, aryl, arylalkyl, aroyl or aralkanoyl group; n and m are integers ranging from 0-6; Ar represents substituted or unsubstituted groups selected from divalent phenylene, naphthylene, pyridyl, quinolinyl, benzoftiryl, dihydrobenzofiiryl, benzopyranyl, dihydrobenzopyranyl, indolyl, indolinyl, azaindolyl, azaindoHnyl, pyrazolyl, benzothiazolyl, benzoxazolyl and the like. The substituents on the group represented by Ar may be selected from linear or branched optionally halogenated (Ci-C6)alkyl, optionally halogenated (Ci-C3}alkoxy, halogen, acyl such as acetyl, COC2H5, butanoyl, pentanoyl, propionyl, benzoyl and the like amino, acylamino, such as NHCOCH3, NHCOC2HS, NHCOC3H7 and NHCOC6H5 and the like; thio or carboxylic or sulfonic acids and their derivatives. Derivatives of amides, chlorides, esters and anhydrides of carboxylic acid and sulfonic acid. X represents -C(=0)-, -C(=S)-, -C(=S)-0, -C{=0)-0-, ■-C(=0)-S-, -0-(CH2)d-, -NH-(CH2)d-, -0-C(=0)-, -C(0)CH2-, -CRA=CR"=-CH2.; -CR^=CR*"-Cp- where R"-and R"" may be same or different and represent hydrogen or {Ci-C6)alkyl; d is 1 to 4; or X represents a bond; R^ represents substituted or unsubstituted group selected from aryloxycarbonyl, arylalkoxycarbonyl, alkylcarbonyloxy, alkoxycarbonyiamino, aryloxycarbonylamino, arylalkoxycarbonylamino, fluorenylmethoxycarbonyl (Fmoc), or different and independently represent hydrogen, or substituted or unsubstituted alkyl, aryl, aiylalkyl, alkoxycarbonyl or arylalkoxycarbonyl; R* and R^ when present on nitrogen atom together may form a 5 or 6 membered cyclic structure containing carbon atoms and one or more heteroatoms selected from oxygen, sulfur or nitrogen. R^ is hydrogen when R"^ is at the third position of the phenyl ring and does not represent hydrogen. R"^ represents hydrogen, halogen, nitro, cyano, amino, haloalkyl, hydroxy or substituted or unsubstituted group selected from linear or branched (C|-Ci2)alkyl, aryl, arylalkyl, heteroaiyl, heteroarylalkyl, heterocydyl, alkoxy, monoalkylamino, dialkylamino, alkoxycarbonyl, aryloxycarbonyl, arylalkoxycarbonyl, aryloxy, arylalkoxy, alkylcarbonyloxy, alkoxycarbonyiamino, aryloxycarbonylamino, arylalkoxycarbonylamino, fluorenylmethoxycarbonyl (Fmoc), or different and independently represent hydrogen, or substituted or unsubstituted alkyl, aryl, arylalkyl, alkoxycarbonyl or arylalkoxycarbonyl; R^ and R^ when present on nitrogen atom together may form a 5 or 6 membered cyclic structure containing carbon atoms and one or more heteroatoms selected from oxygen, sulfur or nitrogen. Suitable groups represented by R" may be selected from hydrogen, hydroxy, halogen, linear or branched linear or branched {C1-C12) alkyl group, preferably, (C|-C6)aikyl groups such as methyl, ethyl, propyl, isopropyl or t-butyl; linear or branched (Ci-C12) alkoxy, preferably linear or branched (C1-C6)alkoxy such as methoxy, ethoxy, propoxy, isopropoxy and the like; substituted or unsubstituted arylalkyl such as benzyl, phenethyl and the like or R together with R^ may form a bond. The arylalkyl may be substituted by (C1-C6) alkyl, (Ci-Cs) alkoxy or hydroxyl group. Suitable groups represented by R may be selected from hydrogen, halogen, linear or branched {C1-C12) alkyl, preferably linear or branched, (C1-C6)alkyl groups such as methyl, ethyl, propyl, isopropyl or t-butyl; linear or branched (Ci-C,2) alkoxy, preferably linear or branched, (C1-C6)aIkoxy such as methoxy, ethoxy, propoxy, isopropoxy and the like; (C1-C12) atkanoyl such as acetyl, propanoyl, butanoyl, pentanoyl and the like; aroyl such as benzoyl and the like; arylalkanoyl such as phenyl acetyl, phenyl propanoyl and the like or substituted or unsubstituted arylalkyl such as benzyl, phenethyl and the like or R^ together with R" may form a bond. The arylalkyl may be substituted by (Ci-Ce) alkyl, (C|-Cfi) alkoxy or hydroxyl group. Suitable groups represented by R^ may be selected from hydrogen, substituted or unsubstituted, linear or branched (Ci-Ci2) alkyl group such as methyl, ethyl, n-propyl, isopropyl, n-butyl, isobutyl, r-butyl, pentyl, hexyl, heptyl, octyl and the like; substituted or unsubstituted, (Ci-Ci2)alkanoyl group preferably a (C2-Cg) alkanoyl group such as acetyl, propanoyl, butanoyl, pentanoyl and the like; aroyl group such as benzoyl and the like, which may be substituted; arylalkanoyl group such as phenyl acetyl, phenyl propanoyl and the like, which may be substituted; (C3-C7)cycloalkyl group such as cyclopropyl, cyclobutyl, cyclopentyl, cyclohexyl, and the like, the cycloalkyl group may be substituted; (C3-C7)cycloalkylalkyI group such as cyclohexylmethyl, cyclohexylethyl, cyclohexylpropyl, cyclohexylbutyl and the like, which may be substituted; (C3-C7) cycloalkenyl group such as cyclopropenyl, cyclobutenyl, cyclopentenyl, cyclohexenyl, and the like, the cycloalkenyl gfoup may be substituted; aryl group such as phenyl, naphthyl and the like, the aryl group may be substituted; arylalkyl such as benzyl, phenethyl, C6H5CH2CH2CH2, naphthylmethyl and the like, the arylalkyl group may be substituted; heterocyclyl group such as aziridinyl, pyrrolidinyl, piperidinyl and the like, the heterocyclyl group may be substituted; heteroaryl group such as pyridyl, thienyl, furyl and the like, the heteroaryl group may be substituted; heteroarylalkyl group such as furanmethyl, pyridinemethyl, oxazolemethyl, oxazoleethyl and the like, the heteroarylalkyl group may be substituted; (C1-C6)alkoxy(C1-C6)alkyl group such as methoxymethyl, ethoxymethyl, methoxyethyl, ethoxypropyl and the like, the alkoxyalkyl group may be substituted; {C1-C6)alkoxycarbonyl such as methoxycarbonyl, ethoxycarbony!, propoxycarbonyl and the like, which may be substituted; aryloxycarbonyi such as phenoxycarbonyl, naphthyloxycarbonyl and the like, which may be substituted; (CrCA)a!kylamiiiocarbonyl, such as raethylaniinocarbonyl, elhyJaminocarbonyl, propylaminocarbonyl and the like, which may be substituted; and arylaminocarbonyl such as PhNHCO, naphthylaminocarbonyl and the like, which may be substituted. The substituents on the group represented by R may be selected from halogen, hydroxy, cyano or nitro or substituted or unsubstituted groups selected from alkyl, cycloalkyl, alkoxy, cycloalkoxy, such as cyclopropyloxy, cyclobutyloxy, cyclopentyloxy, cyclohexyloxy and like; arylalkoxyalkyl such as benzyloxy-CH;-, benzyloxy-CH2-CH2, naphthyloxy-CH2-, 2-phenethyloxy-CH;- and the like; aryl, arylalkyl, heterocyclyl, heteroaryl, heteroarylalkyl, acyl, acyloxy such as OCOMe, OCOEt, OCOPh and the like; hydroxyalkyl, amino, acylamino such as NHCOCHj, NHCOC2HS and the like; arylamino such as HNCeHs, NCH3{C6H5), NHC6H4CH3, NHC6H4-Hal and the like; aminoalkyl, aiyloxy, alkoxycarbonyl, alkylamino, such as NHCHj, NHC2H5, NHC3H7, NCCH^):, NCHjtCiHs), N(C2H5)2 and the like; alkoxyalkyl, alkylthio such as methylthio, ethylthio, propylthio, isopropylthio and the like;, thioalkyi such as thiomethyl, diioetiiyl, thiopropyi and the like carboxylic acid or its derivatives, or sulfonic acid or its derivatives. Derivatives of carboxylic acid and sulfonic acid include amides, chlorides, esters and anydrides of carboxylic acid and sulfonic acid. Suitable groups represented by R may be selected from hydrogen, substituted or unsubstituted, linear or branched (C1-C12)alkyl group such as methyl, ethyl, n-propyl, isopropyl, n-bulyl, iso-butyl, pentyl, hexyl, heptyl, octyl and the like; {Cj-C7)cycloalkyl such as cyclopropyl, cyclopentyl, 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; arylalkyl group such as benzyl and phenethyl, the arylalkyl group may be substituted; heterocyclyl group such as aziridinyl, pyrrolidinyl, piperidinyl and the like. the heterocyclyl group may be substituted; heteroary! group such as pyridyl, thienyl, fliryl and the like, the heteroaryl group may be substituted; heteroarylalkyl group such as furanmethyl, pyridinemethyl, oxazolemethyl, oxazoleethyl and the like, the heteroarylalkyl group may be substituted. The substituents on the group represented by R" such as cyclopropyloxy, cyclobutyloxy, cyclopentyloxy, cyclohexyloxy and like; aryialkoxyaikyl such as benzyIoxy-CH2-, benzyloxy-CHz-CH:, naphthyloxy-CH:-, 1~ phenethyloxy-CH2- and the like; aryl, arylalkyl, heterocyclyl, heteroaryl, heteroarylalkyl, acyl, acyloxy such as OCOMe, OCOEt, OCOPh audi the like; hydroxyalky], amino, acylamino such as NHCOCH3, NHCOC2H5 and the like; arylamino such as HNCeHs, NCH3(C6H5), NHCf,H4CH3, NHCeRi-Hal and the like; aminoalkyi, aryloxy, alkoxycarbonyl, alkylamino, such as NHCH3, NHCzHs, NHC3H7, N(CH3)2, NCHBCCZHJ), N(C2H5)2 and the like; alkoxyalkyl, alkylthio such as methylthio, ethylthio, propytthio, isopropylthio and the like;, thioalkyi such as thiomethyl, thioethyl, thiopropyl and the like carboxylic acid or its derivatives, or sulfonic acid or its derivatives. Suitable groups represented by R^ may be selected from hydrogen, substituted or unsubstituted, linear or branched (C|-Cj6)alkyl, preferably (Ci-Ci2)alkyl group such as methyl, ethyl, «-propyl, iso-propyl, n-butyl, iso-butyl, pentyl, hexyl, heptyl, octyl and the like; substituted or unsubstituted, linear or branched (C2-Cs)alkenyl such as ethenyl, n-propenyl, «-butenyl, iso-butenyl, «-pentenyl, hexenyl, heptenyl and the like; (Cj-C7)cycIoalkyl group such as cyclopropyl, cyclobutyl, cyclopenlyl, cyclohexyl, and the like, the cycloalkyl group may be substituted; (C3-C7)cycloalkyl (C|-Cio)alkyl group such as cyclohesylmelhyl, cyclohexylethyl, cyclohexylpropyl, cycJohexyJbutyl and the like, which may be substituted; aryl group such as phenyl, naphthyl and the like, the aryl group may be substituted; arylalkyl such as benzyl, phenethyl, C6H5CH2CH2CH2, naphthylmethyl and the like, the arylalkyl group may be substituted; aroyl such as benzoyl and the like which may be substituted; aralkanoyi such as phenyl acetyl, phenyl propanoyl and the like which may be substituted. The substituents on the group represented by R^ may be selected from halogen, hydroxy, nitro, alkyl, cycloalkyl, alkoxy, aryl, arylalkyl, aryialkoxyaikyl, such as C6H5CH2OCH2-, C6H5CH2OCH2CH2-, C6H5CH2CH3OCH2CH2-, C6H5CH2CH2OCH2- and the like; heterocyclyl, heteroaryl and amino. Suitable groups represented by R^ may be selected ftom unsubstituted or substituted aryloxycarbonyl group such as phenoxycarbonyl, naphthyloxycarbonyl and the like; arylalkoxycarbonyl group such as benzyloxycarbonyl, phenethyloxycarbonyl, naphthylmethoxycarbonyl and the like, which may be substituted; alkylcarbonyloxy group such as methylcarbonyloxy, ethylcarbonyloxy, propylcarbonyloxy and the like, which may be substituted; aikoxycarbonyJamino group such as methoxycarbonylamino, ethoxycarbonylamino, propoxycarbonylamino, butoxycarbonylamino, l- butoxycarbonylamino and the like, which may be substituted; aryloxycarbonylamino group such as NHCOOCsHs, N(CH3)COOC6H5, N(C2H5)COOC6H5, NHCOOC6H4CH3, NHCOOC6H4OCH3 and the like, which may be substituted; atylalkoxycarbonylamino group such as NHCOOCH2C6H5, NHCOOCH2CH2C6H5, N(CH3)COOCH2C6H5, N(C2H5)COOCH2C6H5, NHCOOCH2C6H4CH3, NHCOOCH2C6H4OCH3 and the like, which may be substituted; fluorenylmethoxycarbonyl (Fmoc), fluorenylmethoxycarbonylamino (N-Fmoc), -OS02R^ -OCONR^R^ NR*COOR^ -NR^COR^ -NR^S02R^ NR^CONR^R"", -NR^CSNR^R^ -S02R^ -SOR^ -SR^ -SO2NRV, -S020R^ -C0OR^ -COR^ or -CONRV, R^ is hydrogen when R"^ is at the third position of the phenyl ring and does not represent hydrogen. When the groups represented by R* are substituted, the substituents may be selected from halogen, hydroxy, nitro, alkyl, cycloalkyl, alkoxy, aryl, arylalkyl or amino. Suitable groups represented by R may be selected from hydrogen, halogen atom such as fluorine, chlorine, bromine or iodine; hydroxy, amino, nitro, cyano, or unsubstituted or substituted, linear or branched (Ci-Ci2)a]lcyl group such as methyl, ethyl, n-propyl, isopropyl, n-butyl, isobutyl, t-butyl, penlyl, hexyl, heptyl, octyl and the like; haloalkyl like trifluoromethyl and the like; (Ci-C6)alkoxy such as methoxy, ethoxy, propoxy and the like, which may be substituted; aryl group such as phenyl, naphthyl and the like, the aryl group may be substituted; arylalkyl such as benzyl, phenethyl, C6H5CH2CH2CH2, naphthylmediyl and the like, the arylalkyl group may be substituted; heteroaryl group such as pyridyl, thienyl, fiiryl, pyrrolyl, oxazolyl, thiazolyl, imidazolyt, oxadiazolyl, tetrazolyl, benzopyranyl, benzofuranyl and the like, the heteroaryl group may be substituted; heteroarylalkyt groups such as furanmethyl, pyridinemethyl, oxazolemethyl, oxazoleethyl and the like, the heteroarylalky group may be substimted; heterocyclyl groups such as aziridinyl, pyrrolidinyl, morpholinyl, piperidinyl, piperazinyl and the like, the heterocyclyl group may be substituted; monoalkyJamino group such as NHCH3, NHC2H5, NHCjHv, NHC6H13 and the like, which may be substituted; dialkylamino group such as N(CH3)2, NCH3(C2Hs), N(C2H5)2 and the like, which may be substituted; alkoxycarbonyl such as methoxycarbonyl, ethoxycarbonyl, propoxycarbonyl. butoxycarbonyl, /-butoxycarbonyl and the like, which may be substituted; aryloxycarbonyl group such as phenoxycarbonyl, naphthyloxycarbonyl and the like, which may be substituted; arylalkoxycarbonyl group such as benzyloxycarbonyl, phenethyloxycarbonyl, naphthylmethoxycarbonyl and the like, which may be substituted; aryloxy group such as phenoxy, naphthyloxy and the like, the aryloxy group may be substituted; arylalkoxy group such as benzyloxy, phenethyloxy, naphthylmethyloxy, phenylpropyloxy and the like, the arylalkoxy group may be substituted; alkylcarbonyloxy group such as methylcarbonyloxy, ethylcarbonyloxy, propylcarbonyloxy and the like, which may be substituted; alkoxycarbonylamino group such as methoxycarbonylamino, ethoxycarbonylamino, propoxycarbonylamino, butoxycarbonylamino, t- butoxycarbonylamino and the like, which may be substituted; aryloxycarbonylamino group such as NHCOOCaHs, N(CH3)COOC6H5, N(C2Hs)COOC6H5, NHCOOC6H4CH3, NHCOOC6H4OCH3 and the like, which may be substituted; arylalkoxycarbonylamino group such as NHCOOCHiCsHs, NHCOOCH2CH2C6H5, N(CH3)COOCH2C6H5. N(C2H5)COOCH2C6Hs, NHCOOCH2C6H4CH3, NHCOOCH2C6H4OCH3 and the like, which may be substituted; fluorenylraethoxycarbonyJ (Fmoc), fluorenylmethoxycarbonylamino (N-Fmoc), -0S02R^ -OCONR^R^ NR^C00R\ -NR^COR^ -NRV, -NR^S02R^ NR^CONR^R"", -NR^CSNR^R^ -S02R^ -SOR^ -SR^ -S02NR^R^ -S020R^ -C00R\ -COR^ , -CONRV. When the groups represented by R""" are substituted, the substituents may be selected from halogen, hydroxy, nitro, alkyl, cycloalkyl, alkoxy, aryl, arylalkyl or amino. Suitable groups represented by R^ R^, R"* may be selected from hydrogen, unsubstituted, linear or branched (CrC(2)alky! group such as methyl, ethyl, n-propy], isopropyl, n-butyl, isobutyl, t-butyl, pentyl, hexyl, octyl and the like; aryl group such as phenyl, naphthyl and die like, the aryl group may be substituted; arylalkyl such as benzyl, phenethyl, C6H5CH2CH2CH2, naphthylmethyl and the like, the arylalkyl group may be substituted; alkoxycarbonyl group such as t-butyloxycarbonyl (BOC) and the like; arylalkoxycarbonyl groups such as benzyloxycarbonyl (CBZ) and the like, R^ and R"" when present on nitrogen atom together may form 5 or 6 membered cyclic ring system containing carbon atoms, atteast one nitrogen and optionally one or more hetero atoms selected from oxygen, sulfur or nitrogen, the cyclic ring system may contain one or two double bonds or it may be aromatic. The substituents on the groups represented by R^, R^ and R " may be selected from halogen, hydroxy, alkoxy, cyano, nitro, alkyl, cycloalkyl, aryl, arylalkyi, acyl, acyloxy, hydroxyalkyl, amino, aryloxy, alkylthio or thioalkyl groups. Suitable groups represented by R^ may be selected from hydrogen or substituted or unsubstituted, linear or branched (C|-Ci2)alkyl; aryl group such as phenyl, naphthyl and the like, the aryl group may be substituted; hydroxy(Ci-C6)alkyl, which may be substituted; arylalkyi group such as benzyl and phenethyl and the like, which may be substituted; heterocyclyl group such as aziridinyl, pyrrolidinyl, piperidinyl, and the like, which may be substituted; heteroaryl group such as pyridyl, thienyl, fiiry! and the like, which may be substituted; heteroarylalkyl group such as fiiranmethyl, pyridinemethyl, oxazolemethyl, oxazoleelhyl and the like, which may be substituted; linear or branched (C2-C8)alkanoyl group such as acetyl, propanoyl, butanoyl, pentanoyl and the like, which may be substituted; aroyi group such as benzoyl and the like, which may be substituted; arylalkanoyi group such as phenyl acetyl, phenyl propanoyl and the like, which may be substituted; alkoxycarbonyl group such as t-butyloxycarbonyl and the like; arylalkoxycarbonyl groups such as benzyloxycarbonyl and the like. The substituents of the group represented by R may be selected from halogen, hydroxy, alkoxy, cyano, nitro, alkyl, cycloalkyl, aryl, arylalkyi, acyl, acyloxy, hydroxyalkyl, amino, aryloxy, alkylthio or thioalkyl groups. Suitable ring structures formed by R"* and R" together may be selected from pyrrolidinyl, piperidinyl, morpholinyl, piperazinyl, oxazolinyl and the like. Suitable substituents on the cyclic structure formed by R"^ and R^ taken together may be selected from hydroxy, alkyl, oxo, arylalkyi and the like. Suitable groups represented by AT may be selected from substituted or unsubstituted divalent phenylene, naphthylene, benzofuryl, mdolyl, indolinyl, quinolinyl, azaindolyl, azaindolinyl, benzothiazolyl or benzoxazolyl groups, which may be unsubstituted or substituted by alkyl, haloalkyl, methoxy or haloalkoxy groups. Suitable n and m are integers ranging from 0-6. Suitable X represents -C{=0)-, -0(CH2)d, (where d is an integer from 1 to 4) -C(-S)-, 0-C(=0)-, -C(0)CH2-, -CH=CH-CH2-; -CH=CH-CO- or X represents a bond. Preferred compounds of the present invention are those of formula (I) wherein: R is hydrogen, linear or branched (C1-C6)alkyl group or forms a bond with R2. R is hydrogen, linear or branched (C1 -C6)alkyl group or forms a bond with R1. R is hydrogen, linear or branched (C1-C12}a]ky], (C3-C7)cyc]oalkyI group, ary\ group such as phenyl, naphthyl or aryl allcyl group. R4 is hydrogen, linear or branched (C\-Cn)alky\, (C3-C7cycloalkyt group, aryi group such as phenyl, naphthy! or aryl alkyl group. R^ is hydrogen, (C1-C12)alkyl or (C3-C7)cycloalkyl group. R is fluorenylmethoxycarbonyl (Fmoc), fluorenylmethoxycarbonylamino (N-Fmoc), -0S02R^ -OCONR8R9 NR8COOR9 -NR^COR^ or -NR^S02R^ R^ is hydrogen, linear or branched {Ci-C6)alkyl or aryl group which may be substituted. R is hydrogen, linear or branched {Ci-C6)alkyl, t-butyloxycarbonyl or benzyloxycarbonyl group. R"^ is hydrogen or -OS02R^ X is -C(=0)-, 0-C(=0)-, -0(CH2)4, (where d is an integer from 1 to 4) -C(=S)-, -CE=CH~CH2-; -CH=CH-CO- or X represents a bond. Y is oxygen or NR^. R^ is hydrogen, substituted or unsubstituted, linear or branched (C1-C12)alky! or; aryl group, the aryl group may be substituted; d is an integer from 1-4. m is an integer from 0 to 1. n is an integer from 0 to 2. Still more preferred compounds of the present invention are those of formula (I) wherein: R" is hydrogen or fonns a bond with R2. R is hydrogen or forms a bond with R1. R^ is hydrogen, linear or branched {C1-C12)alkyl group. R"* is hydrogen, linear or branched (C1-C13)a]ky] group, R^ is hydrogen or (C1-C12)alkyl group. R^ is -OSO^R^ or -NR""S02R9 R^ is or linear or branched (C1-C6alkyl, or substituted aryl group wherein the subslituent is linear or branched (C1-C6)alky] group. R is linear or branched {C1-C6)alkyl, t-butyloxycarbonyl or benzyloxycarbonyl group. R" is hydrogen or -0S02R^ X is -C(-O)-, O-C(-O)-, -0(CH2)d (d is ! to 4), -CH-CH-CH;-; -CH=CH-CO- or X represents a bond. Y is oxygen. PbarmaceuticalJy acceptable salts forming part of this invention include salts derived from inorganic bases such as Li, Na, K, Ca, Mg, Fe, Cu, Zn, Al, Mn; salts of organic bases such as N,N"-diace(ylethyIenediamine, betaine, caffeine, 2- diethylaminoethanol, 2-dimethylaminoethanol, N-ethylmorpholine, N-ethylpiperidine, glucamine, glucosamine, hydrabamine, isopropylamine, methylglucamine, morpholine, piperazine, piperidine, procaine, theobromine, valinol, diethylamine, triethylamine, trimethylamine, Iriprapylamine, tromethamine, adamentyl amine, diethanolamine, meglumine, ethylenediamine, N,N"-diphenylethylenediamine, N,N"- dibenzylediylenediamine, N-benzyl phenylethyiamine, choline, choline hydroxide, dicyclohexylamine, metformin, benzylamine, phenylethyiamine, dialkylamine, triaikylamine, thiamine, aminopyrimidine, aminopsoidine, purine, pyrimidine, spermidine, and the like; chiral bases like alkylphenylamine, glycinol, phenyl glycinol and the like, salts of natural amino acids such as glycine, alanine, valine, leucine, isoieucine, norleucine, tyrosine, cystine, cysteine, methionine, proline, hydroxy proline, histidine, ornithine, lysine, arginine, serine, threonine, phenylalanine; uimatural amino acids such as D-isomers or substituted amino acids; salts of acidic amino acids such as aspartic acid, glutamic acid; guanidine, substituted guanidine wherein the substituents are selected from nitro, amino, alkyl, alkenyl, alkynyl, ammonium or substituted ammonium salts. Salts may include acid addition salts where appropriate which are sulphates, nitrates, phosphates, perchlorates, borates, hydrohalides (HCl, HBr, HI), acetates, tartrates, maleates, citrates, succinates, palmoates, methanesulfonates, benzoates, salicylates, hydroxynaphthoates, benzenesulfonates, ascorbates, glycerophosphates, ketoglutarates and the like. Pharmaceuticaliy acceptable solvates may be hydrates or comprising other solvents of crystallization such as alcohols. Particularly useful compounds according to the present invention includes: Ethyl 2-methox.y-3-[4- {3-(4-methanesulfonyloxyphenyl)propylamino} phenyl] propionate or its salts in its single enantiomeric form or as a racemate. Ethyl 2-ethoxy-3-[4-{3-(4-methanesulfonyloxyphenyl)propylamino}phenyl] propionate or its salts in its single enantiomeric form or as a racemate. Ethyl 2-ethoxy-3-[4- {3-(4-methanesulfony(oxyphenyI) propyioxycarbonylamino}phenyi] propionate or its salts in its single enantiomeric form or as a racemate. Ethyl 2-ethoxy-3-[4-{3-(3-meflianesulfonyloxyphenyl)propylamino}phenyl] propionate or its salts in its single enantiomeric form or as a racemate. Ethyl 2-ethoxy-3-[4-{3-(4-(toluene-4-sulfonyloxy)phenyl)propylamino}phenyl] propionate or its salts in its single enantiomeric form or as a racemate. Ethyl 2-ethoxy-3-[3-{3-(4-methaneauIfonyioxyphenyi)propylamino}phenyl] propionate or its salts in its single enantiomeric form or as a racemate. Ethyl 2-isopropoxy-3-[4-{3-(4-methanesulfonyloxyphenyl)propylamino}phenyl] propionate or its salts in its single enantiomeric form or as a racemate. Ethyl 2-ethoxy-3-[4-(4-metiiylsulfonyloxyphenethylamino)phenyl]propionate or its salts in its single enantiomeric form or as a racemate. Ethyl 2-ethoxy-3-{4-[(£)-3-(4-methylsuIfonyioxyphenyl)-2-prope- nylamino]phenyl}propionate or its salts in its single enantiomeric form or as a racemate. Methyl 2-ethoxy-3-[4-(4-methanesulfonyloxybenzylamino)phenyl]propionate or its salts in its single enantiomeric form or as a racemate. 2-Methoxy-3-[4-{3-(4-methanesulfonyloxyphenyl)propylamino}phenyl]propionicacid or its salts in its single enantiomeric form or as a racemate, 2-Ethoxy>3-[4- {3-(4-methanesulfonyloxyphenyl)propylamino fphenyljpropionic acid or its salts in its single enantiomeric form or as a racemate. 2-Ethoxy-3-[4-{3-(4-inethanesulfonyloxyphenyl)propyloxycarbonylaTnino} phenyl] propionic acid or its salts in its single enantiomeric form or as a racemate. 2-Ethoxy-3-[4-J3-(3-meIhanesuIfonyIoxyphenj"l)propy]amino}phenyl]propionic acid or its salts in its single enantiomeric form or as a racemate. 2-ethoxy-3-[4-{3-(4-(toluene-4-sulfonyloxy)pheny])propylamino}phenyl] propionate or its salts in its single enantiomeric form or as a racemate. 2-Ethoxy-3-[3-{3-(4-methanesuifonyloxyphenyi)propyIamino}phenyi]propiomc acid or its salts in its single enantiomeric form or as a racemate. 2-Isopropoxy-3-[4-{3-(4-methanesulfonyloxyphenyl)propylamino}phenyl]propionic acid or its salts in its single enantiomeric form or as a racemate. 2-ethoxy-3-[4-(4-methanesulfonyloxybenzylamino)phenyl]propionic acid or its salts in its single enantiomeric form or as a racemate. 2-ethoxy-3-[4-{4-methylsulfonyloxyphenethylamino)phenyl]propionic acid or its salts in its single enantiomeric form or as a racemate. 2-Ethoxy-3-{4-[(£)-3-{4-methylsulfonyloxyphenyl)-2-prope-nylamino]phenyl}propionic acid or its salts in its single enantiomeric form or as a racemate. Ethyl 2-ethoxy-3-[4-(4-mefliylsii]fonyIoxybenzy!carboxamido)phenyl]-propionate or its salts in its single enantiomeric form or as a racemate. 2-Ethoxy-3-[4-(4-methylsulfonyloxybenzylcarboxamido)phenyl]propionic acid or its salts in its single enantiomeric form or as a racemate. Ethyl 2-ethoxy-3-[4-{3-(4-?ert-butoxy-4-methyisuIfonamidophenyI)propyI- amino} phenyl]propionate or its salts in its single enantiomeric form or as a racemate. 2-Ethoxy-3-[4-{3-(4-rert-butoxy-4-methylsulfonamidophenyl)propylamino}- phenyl]propionic acid or its salts in its single enantiomeric form or as a racemate. Ethyl 2-ethoxy-3-{4-[(£l-2-(4-methylsulfonyloxyphenyl)-l-ethenylcarboxami- do]phenyi}propiona(e or its salts in its single enantiomeric form or as a racemate. 2-Ethoxy-3-{4-[(Q-2-{4-methylsulfonyloxyphenyl)-l-ethenylcarboxamido]-phenyl I propionic acid or its salts in its single enantiomeric form or as a racemate. Ethyl 2-ethoxy-3-[4-(4-methylsulfonyloxyphenethylcarboxamido)phenyl]-propionate or its salts in its single enantiomeric form or as a racemate. 2-Ethoxy-3-[4-(4-methylsulfonytoxyphenedienyIcarboxamido)phenyl]propa-noic acid or its salts in its single enantiomeric form or as a racemate. Ethyl 2-methoxy-3-[4-{(E)-3-(4-methyIsulfonyloxyphenyl)-2-propenylamino}phenyI] propionate or its salts in its single enantiomeric form or as a racemate. 2-Methox.y-3-[4-{(E)-3-(4-methylsulfonyloxyphenyl)-2-propenylamino}phenyl] propionic acid or its salts in its single enantiomeric form or as a racemate. Ethyl 2-methoxy-3-[4-{3-{3-methanesulfony!oxyphenyl)propylamino}phenyl] propanoate or its salts in its single enantiomeric form or as a racemate. 2-Methoxy-3-[4-{3-(3-methanesulfonyloxyphenyI)propylamino} phenyl]propanoic acid or its salts in its single enantiomeric form or as a racemate. Ethyl 2-ethoxy-3-{4-[(£)-3-(4-methylsulfonyloxyphenyl)-2-propenyl(phenyl) carboxamidojpheny]}propanoale or its salts in its single enantiomeric form or as a racemate. 2-ethoxy-3-{4-[(£)-3-(4-methylsulfonyl-oxyphenyl)-2-propenyl(phenyl) carboxamido] phenyl I propanoic acid or its salts in its single enantiomeric form or as a racemate. Methyl 2-methoxy-3-{4-[(£)-3-(4-methyl-su!fonyloxyphenyl)-2-propenyl(phenyl) carboxamido]phenyl|propanoate or its salts in its single enantiomeric form or as a racemate. 2-methoxy-3-{4-[(£)-3-{4-methylsuifonyl-oxyphenyl)-2-propenyl(phenyl) carboxamido]phenyl {propanoic acid or its salts in its single enantiomeric form or as a racemate. According to a feature of the present invention, the compound of genera) formula (I) where R", R^ R\ R", R^ R\ R"\ X, Y, n, m and Ar are as defined eariier, can be prepared by any of the following routes shown in Scheme-I below. Route (1): The reaction of a compound of the general formula (Ilia) where all symbols are as defined earlier with a compound of formula (lllb) where Y is as defined above excluding NH, R" " represents linear or branched (C|-C6)alkyl and all other symbols are as defined earlier to yield compound of general formula (I) where Y is as defined above excluding NH and all other symbols are as defined above may be carried out in the presence of a base such as alkali metal hydrides like NaH or KH; organolithiums such as CHiLi, BuLi, LDA, TMEDA and the like; alkoxides such as NaOMe, NaOEt, K"^BuO" and the like or mixtures thereof. The reaction may be carried out in the presence of solvents such as diethyl ether, THF, dioxane, DMF, DMSO, DME, toluene, benzene and the like or mixtures thereof HMPA may be used as cosolvent. The reaction temperature may range from -78 ° 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 (IITb) may be prepared by Arbuzov reaction {Annalen. Chemie, 1996, 53, 699). Alternatively, the compound of fonnula (I) may be prepared by reacting the compound of formula (Ilia) where all symbols are as defined earlier with Wittig reagents such as HarPhjP CH-(OR )C02R under similar reaction conditions as described above, where R^ and R"" are as defined above. Route (2): The reaction of compound of formula (Illd) where R* is as defined earlier, NR^R*, Y is as defined above excluding NH and all other symbols are as defined above with a compound of formula (lllc) where R^ is as defined earlier excluding hydrogen and L" is a leaving group such as halogen atom, p-toluenesulfonate, methanesulfonate, trifluoromethanesulfonate and the like to yield compound of formula (I) may be carried out in the presence of solvents such as diethyl ether, THF, DMF, DMSO, DME, toluene, benzene and the like. The inert atmosphere may be maintained by using inert gases such as N2, Ar, He and the like. The reaction may be effected in the presence of a base such as KOH, NaOH, NaOMe, t-BuO"K*, NaH, KH, LDA, NaHMDS, K2CO3, Na2C03 and the like. Phase transfer catalyst such as tetraalkylammoniura halides or hydroxides or bisulphates may be employed. The reaction temperature may range from -20 °C to 200 °C, preferably at a temperature in the range of 0 " to 150 °. The duration of the reaction may range irom 1 to 72 hours, preferably from 1 to 12 hours. The reaction may also be carried out using alkylating agents such as dialkylsulphates like diethyl sulphate or dimethyl sulphate; alkyl halides like methyl iodide, methyl bromide ethyl iodide, ethyl bromide and the like. Route (3): The reaction of a compound of the general formula (Ilia) where all symbols are as defined earlier, with a compound of formula (Ille) where R^ represents hydrogen atom, Y is as defined above excluding NH and all other symbols are 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, KH, metal alkoxides such as NaOMe, /-BuO"K*, NaOEt, metal amides such as LiNHz, LiN(ipr)2 may be used. Aprotic solvents such as THF, ether, 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 ^-TSA in solvents such as benzene or toluene. The nature of solvent and dehydrating agent are 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 (4): The reaction of compound of formula (Illg) where K*, R"^, X, n are as defined earlier and L" represents a leaving group such as halogen atom like chlorine or bromine or iodine, /;-toluenesulfonate, methanesulfonate, trifluoromethanesulfonate and the like, preferably a halogen atom with compound of formula (Illf) where R" and R" together represent a bond and all other symbols are as defined earlier to produce a compound of the formula (I) defined above may be carried out in the presence of aprotic solvents such as diethyl ether, THF, DMF, DMSO, DME, toluene, benzene, acetone, acetonitrile and the like or mixtures thereof. The reaction may he carried out in an inert atmosphere, which may be maintained by using inert gases such as N2, Ar, He and the like. The reaction may be effected in the presence of a base such as K2CO3, Na2C03 or NaH or mixtures thereof The reaction temperature may range from -20 °C - 120 °C, preferably at a temperature in the range of 0 °C - 120 °C, The duration of the reaction may range from 1 to 48 hours. Phase transfer catalyst such as tetraalkylammonium halides or hydroxides or bisulphates may be employed. Route (5): The reaction of compound of general formula (Illh) where R", R"^, X, n are as defined earlier with a compound of general formula (Illf) where R" and R^ together represent a bond, R^ is hydrogen and all other symbols are as defined earlier may be carried out using suitable coupling agents such as isobutyl chloroformate or ethyl chloroformate/EtsN, pivaloyl chloride/EtsN, dicyclohexyl urea, triarylphosphine/ dialkylazadicarboxylate such as PPhj /DEAD and die 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, He and the Uke. 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 48 hours, preferably from 0.5 to 24 hours. Route 6: The reaction of a compound of formula (Illi) where all symbols are as defined earlier with a compound of formula (IIIj) where Y represents oxygen, R"* = R"* and are as defined earlier excluding hydrogen, to produce a compound of the formula (I) where R" and R together represent a bond, Y represents oxygen atom 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, t-BuO"K"^ 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 co-solvent. The reaction temperature may range from -78 ° to 100 °C, preferably at a temperature in the range of -10 °C to 30 °C. The duration of the reaction may range from I to 48 hours. In yet another embodiment of the present invention, die compound of the general formula (I) where R" represents hydrogen atom, hydroxy, alkoxy, halogen, lower alkyl, substituted or unsubstltuted arylalkyl group; R^ represents hydrogen, halogen, lower alkyl, alkanoyl, aroyl, arylalkanoyl, substituted or unsubstltuted arylalkyl; R\ R"", R^ R , R , X, Y, Ar, m and n are as defined earlier can be prepared by one or more of the processes shown in Scheme-II below. Route 7: The reduction of compound of the fomiula (IVa) which represents a compound of formula (I) where R" and R^ together represent a bond and Y represent 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 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 dioxane, acetic acid, ethyl acetate, alcohol such as methanol, ethanol and the like. A pressure between atmospheric pressure and 40 to 80 psi may be employed. TTie catalyst may be preferably 5 - 10% Pd/C and the amount of catalyst used may range from 5 - 100% w/w. The reaction may also be carried out by employing metal solvent reduction such as magnesium or samarium 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 hgands may preferably be chiral phosphines such as optically pure enantiomers of 2,3- bis(diphenyiphosphino)butane, 2,3-isopropyHdene-2,3-dihydroxy-l,4- bis(diphenylphosphino)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, Tetrahedron Series Vol 14, pp311-316, Ed. Baldwin J. E.). Route 8: The reaction of compound of formula (IVb) where R^ is as defined earlier; R"* is as defined earlier excluding hydrogen and alt other symbols are as defined earlier and L" is a leaving group such as halogen atom like chlorine, bromine or iodine; methane sulfonate, p-toluene sulfonate, trifluoromethane sulfonate with an alcohol of general formula (IVc), where R is as defined earlier excluding hydrogen to produce a compound of the formula (1) defined earlier may be carried out in the presence of solvents such as diethyl ether, THF, DMF, DMSO, DME, diethyl ether, toluene, benzene 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 N3, Ar, He and the like. The reaction may be effected in the presence of a base such as KOH, NaOH, NaOMe, NaOEt, /-BuO"K*, NaH, KH or mixtures thereof. Phase transfer catalysts such as tetraalkylammonium balides, bisuJfates or hydroxides may be employed. The reaction temperature may range fi^om -20 °C to 120 °C, preferably at a temperature in the range of 0 "C to 100 °C. The duration of the reaction may range from 1 to 48 hours, preferably from 1 to 24 hours. Route 9: The reaction of compound of formula (Illg) defined earlier with compound of formula (Illf) where all symbols are as defined earlier to produce a compound of the formula (1) defined above, may be carried out in the presence of solvents such as diethyl ether, THF, DMF, DMSO, DME, toluene, benzene, acetone, acetonitrile 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, He and the like. The reaction may be effected in the presence of a base such as K2CO3, Na2C03, NaH and the like or mixtures thereof The reaction temperature may range firom -20 °C to 120 °C, preferably at a temperature in the range of 0 °C - 120 °C. The duration of the reaction may range from 1 to 48 hours, preferably from 1 to 24 hours. Phase transfer catalyst such as tetraalkylammonium halides or hydroxides may be employed. Route 10: The reaction of compound of general formula (Illh) defined earlier with a compound of general formula (Illf) where all symbols are as defined above may be carried out using suitable coupling agents such as isobutyl chloroformate, ethyl chloroformate/EtsN or pivaloyl chloride/EtsN, dicyclohexyl urea, triarylphosphine/ dialkylazadicarboxylate such as PPhs/DEAD and the like. The reaction may be carried out in the presence of solvents such as THF, DME, CUiCh, CHCI3, toluene, acetonitrile, carboTi tetrachloride and the like. The inert atmosphere may be maintained by using inert gases such as N2, Ar, He and the like. 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 48 hours, preferably from 6 to 24 hours. Route U: The reaction of compound of formula (Illd), which represents a compound of formula (I) where all symbols are as defined above, with a compound of formula (IIIc) where R is as defined earlier excluding hydrogen and L is a leaving group such as halogen atom like chlorine, bromine or iodine; methane sulfonate, p-toluene sulfonate, trifluoromethane sulfonate and like may be carried out in the presence of solvents such as diethyl ether, THF, DMF, DMSO, DME, toluene, benzene, acetone, acetonitrile and the like. The inert atmosphere may be maintained by using inert gases such as Nz, Ar, He and the Hke. The reaction may be effected in the presence of a base such as KOH, NaOH, NaOMe, t-BuO K*, NaH, KH, LDA, NaHMDS, K2CO3, Na2C03 and the like. Phase transfer catalyst such as tetraalkylammonium halides or hydroxides or bisulphates may be employed. The reaction temperature may range from -20 °C to 200 °C, preferably at a temperature in the range of 0 " to 150 °. The duration of the reaction may range from 1 to 72 hours, preferably from 1 to 12 hours. The reaction may also be carried out using alkylating agents such as dialkylsulphates like diethyl sulphate or dimethyl sulphate; alky! halides like methyl iodide, methyl bromide ethyl iodide, ethyl bromide and the like. Route 12: The reaction of a compound of the general formula (Ilia) defined earlier with a compound of formula (IIIe) where R" represents hydrogen atom, Y is as defined above excluding NH and all other symbols are as defined earlier may be carried out under conventional conditions. Any base normally employed for aldol condensation reaction may be employed, metal hydride such as NaH or KH; metal alkoxides such as NaOMe, l-BuO"K"" or NaOEt; metal amides such as LiNHi, LiN(iPr)2. Aprotic solvent such as THF, DMF or diethyl ether 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 bedehydroxylated using conventional methods, conveniently by ionic hydrogenation technique such as by treating with a trialkylsilane in the presence of an acid such as trifluoroacetic acid. Solvent such as CKiCli may be used. Favorably, reaction proceeds at 25 "C. Higher temperature may be employed if the reaction is slow. Dehydroxylalion may also be carried out using Barton"s deoxygenation procedure (Ref D.H.R. Barton at al J, Chem. Soc, Perkin Trans /, 1975, 1574; F.S. Martin etaJ Tetrahedron Lett., 1992, 33, 1839). Route 13: The conversion of compound of formula (IVd) where all symbols are as defined earlier to a compound of formula (I) where Y represents oxygen atom and all other symbols are as defined earlier 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, metal hydroxides such as NaOH or KOH in an aqueous solvent or any acid normally used for hydrolysis of nitrile to ester may be employed such as HCl in an excess of alcohol such as methanol, ethanol, 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 14: The reaction of a compound of formula (IVe) where R"" is as defined earlier excluding hydrogen and all symbols are as defined earlier with a compound of formula (fVc) where R^ is as defined earlier excluding hydrogen to produce a compound of formula (I) {by a rhodium carbenoid mediated insertion reaction) may be carried out in the presence of rhodium (11) salts such as rhodium (II) acetate. The reaction may be carried out in the presence of solvents such as benzene, toluene, dioxane, ether, THF and the like or a combination thereof or when practicable in the presence of R^OH as solvent at any temperamre 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, He and the like. The duration of the reaction may range hom 0,5 to 24 h, preferably irom 0.5 to 6 h. Route 15: The reaction of compound of fonnula (IVg) with compound of formula (IVf) where G" and G^ are different and independently represent NH2 or CHO, q is an integer ranging from 0-6 and all other symbols are as defined earlier to give a compound of formula (I) where R* represents hydrogen and all other symbols are as defined above may be carried out in two steps the first step being the imine formation, followed by reduction. Formation of imine may be carried out in solvents such as MeOH, EtOH, i-PrOH and the like. The reaction may be effected in the presence of a base such as NaOAc, KOAc and the like or the mixtures thereof The temperature of reaction may range from room temperature to the reflux temperature of the solvent used. The reaction time may be 2 h to 24 h, preferably in the range 2 h to 12 h. The imine can also be obtained by the reaction of a compound of general formula (IVg) with a compound of formula (IVf) where G" and G^ are different and independently represent NHi or CHO, q is an integer ranging from 0-6 and all other symbols are as defined earlier using solvents such as CH2CI2, CHCI3, chlorobenzene, benzene, THF, in the presence of catalyst such as p-toluenesulfonic acid, methanesulfonic acid, TFA, TfOH, BF3-OEt2 and the like. The reaction may also be carried out in presence of activated molecular sieves. The temperature of the reaction may range from 10 "C to 100 "^C, preferably at a temperature in the range from 10 °C to 60 "C. fhe reaction time may range from 1 h to 48 h. The imine product thus obtained above may be reduced by using Na{CN)BH3-HCl (ref: Hutchins, R. O. et al. J. Org- Chem. 1983, 48, 3433), NaBm, Hz-PdJ/C, H^-Pt/C, H2-Rh/C and the like in solvents such as methanol, ethanol and the like. The compound of formula (I) where R5 represents hydrogen, may also be prepared using single step procedure, using compound of formula (IVg) and (IVf) where all symbols are as defined earlier, by reductive amination using hydrogen as the reducing agent. The compounds of formulae (IVg) and (IVf) on condensation under pressure in the presence of hydrogen may give rise to the compound of formula (1). The pressure may vary from 10 to 90 psi, preferably between 20 and 60 psi. Solvents may be selected one from MeOH, EtOH, EtOAc, dioxane, toluene and the like. The temperature may range from RT to 50 "C, preferably a range of RT to 40 "C, The catalyst may be used such as Pd/C, Rh/C, Pt/C and the like. The compound of genera! formula (I) where R"" represents hydrogen atom may be prepared by hydrolysis using conventional methods, a compound of formula (I) where R"" represents all groups defined earlier except hydrogen. The hydrolysis may be carried out in the presence of a base such as Na2CO3, K2CO3, NaOH, KOH, LiOH and the like and a suitable solvent such as methanol, ethanol, water and the like or mixtures thereof. The reaction may be carried out at a temperature in the range of 20-120 °C. The reaction time may range from 2 to 48 h, preferably from 2 to 12 h. The compound of general formula (I) where Y represents oxygen and R4 represents hydrogen or lower alkyl group may be converted to compound of formula (I), where Y represents NR^ by reaction with appropriate amines of the formula NHR4R7, where R4 and R^ are as defined earlier to yield a compound of formula (I) where Y represents NR7 and all other symbols are as defined earlier. Aitemativeiy, the compound of formula (I) where YR" represents OH may be converted to acid halide, preferably YR4 = Ct, by reacting with appropriate reagents such as oxalyl chloride, thionyl chloride and the like, followed by treatment with amines of the formula NHR""R^ where R4 and R7 are as defined earlier. Alternatively, mixed anhydrides may be prepared from compound of formula (I) where YR"* represents OH and all other symbols are as defined earUer 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 pyridine, triethylamine, diisopropyl ethylamine and the like. Coupling reagents such as DCC/DMAP DCC/HOBt, EDCI/HOBT, ethylchloroformate, isobutylchloroformate can also be used to activate die acid. Solvents such as halogenated hydrocarbons like CHCI3 or CH2CI:; 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 ^0 °C to 40 °C, preferably at a temperature in the range of 0 °C to 20 °. The acid halide or mixed anhydride or activated acid obtained by coupling reagents described above thus prepared may further be treated with appropriate amines of the formula NHR""R" where R"" and R^ are as defined earlier to yield a compound of formula (I) where Y represents NR" and all other symbols are as defined earlier. In still another embodiment of the present invention the novel intermediate of formula (IIIa) their derivatives, their analogs, their tautomeric forms, their stereoisomers, their salts, their solvates wherein R5 represents hydrogen or substituted unsubstituted group selected from alkyl, alkenyl, cycloalkyl, cycloalkylalkyl, aryl or arylalkyl group; n and m are integers ranging from 0-6; Ar represents substituted or unsubstituted groups selected from divalent phenylene, naphthylene, pyridyl, quinoJinyl, benzofuryl, dihydrobenzofuryl, benzopyranyl, dihydrobenzopyranyl, indolyl, indolinyl, azaindolyl, azaindoliny!, pyrazolyl, benzothiazolyl, benzoxazolyl and the like; X represents C=0, C=S, -C(0)CH2-, -CH=CH-CH2-; -CH=CH-CO- or X represents a bond; R6 represents substimted or unsubstituted group selected from aryloxycarbonyl, arylalkoxycarbonyl, alkylcarbonyloxy, alkoxycarbonylamino, aryloxycarbonylamino, arylalkoxycarbonylamino, CONR8R9 wherein R8, R9 and R10 may be the same or different and independently represent hydrogen, or substituted or unsubstituted aikyi, aryl, arylalkyl, aikoxycarbonyJ or arylalkoxycarbonyl; R8 and R9 when present on nitrogen atom together may form a 5 or 6 membered cyclic structure containing carbon atoms and one or more heteroatoms selected from oxygen, sulfur or nitrogen or R6 is hydrogen; when R13 is at the third position of the phenyl ring and does not represent hydrogen. R" represents hydrogen, halogen, nitro, cyano, amino, haloalkyl, hydroxy or substituted or unsubstituted group selected from linear or branched (Ci-Ci2)alkyl, aryl, aryialkyl, heteroaryl, heteroarylalkyl, heterocyclyl, alkoxy, monoatkylamino, dialkylamino, alkoxycarbonyl, aryloxycarbonyl, arylalkoxycarbonyl, aryloxy, arylalkoxy, a]kylcarbony]oxy, alkoxycarbonylamino, aiyloxycarbonylamino, arylalkoxycarbonylamino, fluorenylmethoxycarbonyl (Fmoc), or different and independently represent hydrogen, or substituted or unsubstituted alkyl, aryl, aryialkyl, alkoxycarbonyl or arylalkoxycarbonyl; R8 and R9 when present on nitrogen atom together may form a 5 or 6 membered cyclic structure containing carbon atoms and one or more heteroatoms selected from oxygen, sulfur or nitrogen. The substituents of the groups represented by Ar, R5 R6, R8, R9, R10, and R13 are as defined for the compound of formula (I). m is an integer from 0 to 6 and n is an integer from 0 to 6. In yet another embodiment of the present invention, the compound of formula (IIIa) where R5 represents hydrogen; X represents C(0)CH2-, -CH-CH-CH2-; or X represents a bond; m is 0, Ar represents phenyl and all other symbols are as defined above may be prepared by following the process described in scheme-Ill below : The reaction of compound of formula (IIIk) where all symbols are defined above with compound of formula (IIIl) where R12 represents hydrogen or {C1-C6)alkyl group to give a compound of formula (IIIm) where all symbols are as defined earlier may be carried out in two steps the first step being the imine formation, followed by reduction. Formation of imine may be carried out in solvents such as MeOH, EtOH, i-PrOH and the like. The reaction may be effected in the presence of a promoter such as NaOAc, KOAc and the like or the mixtures thereof. The temperature of reaction may range from room temperature to the reflux temperature of the solvent used. The reaction time may be 2 h to 24 h, preferably in the range 2 h to 12 h. The imine can also be obtained by the reaction of a compound of general formula (Illk) with a compound of formula (IIIl) using solvents such as CH2C12, CHCl3, chlorobenzene, benzene, THF, in the presence of catalyst such as p-toluenesulfonic acid, methanesulfonic acid, TEA, TfOH, BF3-OEt2: and the like. The reaction may also be carried out in presence of activated molecular sieves. The temperature of the reaction may range from 10 °C to 100 °C, preferably at a temperature in the range from 10 °C to 60 °C. The reaction time may be 1 h to 48 h. The imine product thus obtained above may be reduced by using Na(CN)BH).-HCl (ref: Hutchins, R. O. et al. J. Org. Chem. 1983, 48, 3433), NaBH4, H2-Pd]/C, H2-Pt/C, Hj-Rh/C and the like in solvents such as methanol, ethanol and the like. The hydrolysis of compound of formula (Illm) where all symbols are as defined earlier to produce compound of formula (IIIa) may be carried out either in the presence of base or acid and the selection of base or acid is not critical. Bases such as metal hydroxides like NaOH or KOH in an aqueous solvent or acids such as aqueous HCl or TFA in solvents such as CH2C12, THF, acetone, methanol, ethanol, propanol, water etc may be used. 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 0 °C to reflux temperature of the solvent used. The duration of the reaction may range from 0.25 to 48 hrs. In yet another embodiment of the present invention, the compound of formula (IIIa) where R5 represents hydrogen or alkyl group; m is 0, and all other symbols are as The reaction of compound of formula (IIIg) with compound of formula (IIIn) may be carried out in the presence of solvents such as THF, DMF, DMSO, DME, toluene, benzene, acetone, acetonitrile 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, He and the like. The reaction may be effected in the presence of a base such as K2CO3, Na2C03, NaH and the like or mixtures thereof. The reaction temperature may range from 20 °C to 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 1 to 12 hours. It is appreciated that in any of the above mentioned reactions, any reactive group in the substrate molecule may be protected according to conventional chemical practice. Suitable protecting groups in any of the above mentioned reactions are tertiarybutyldimethylsilyl, methoxymethyl, triphenyl methyl, benzyloxycarbonyl, THP etc, to protect hydroxyl or phenolic hydroxy group; N-Boc, N-Cbz, N-Fmoc, benzophenoneimine etc, for protection of amino or anilino group, acetal protection for aldehyde, ketal protection for ketone and the like. The methods of formation and removal of such protecting groups are those conventional methods appropriate to the molecule being protected. The pharmaceutically acceptable salts are 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 hydroxide, potassium t-butoxide, calcium hydroxide, magnesium hydroxide and the like, in solvents like ether, THF, methanol, t-bulanol, dioxane, isopropanol, ethanol etc. Mixtures of solvents may be used. Organic bases like lysine, arginine, diethanolamine, choline, guanidine, tromethamine 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, fumaric 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 diastereomeric 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 brucine, cinchona alkaloids and their derivatives and the like. Commonly used methods are compiled by Jaques et al in "Enantiomers, Racemates and Resolution" {Wiley Interscience, 1981). More specifically the compound of formula (1) where YR10 represents OH may be converted to a 1:1 mixture of diastereomeric amides by treating with chiral amines, aminoacids, aminoalcohols derived from aminoacids; conventional reaction conditions may be employed to convert acid into an amide; the diastereomers may be separated either by fractional crystallization or chromatography and the stereoisomers of compound of formula (I) may be prepared by hydrolyzing the pure diastereomeric amide. Various polymorphs of a compound of general formula (I) forming part of this invention may be prepared by crystallization of compound of formula (I) under different conditions. For example, making use of commonly used solvents or their mixtures for recrystallization; crystallization at different temperatures; various modes of cooling. ranging from very fast to very slow cooling during crystallization. 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 present invention provides a pharmaceutical composition, containing the compounds of the general formula (I) as defined above, their derivatives, their analogs, 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, useful 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 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, nephropathy. The compounds of general formula (I) are also useful for the treatment / prophylaxis of insulin resistance (type II diabetes), impaired glucose tolerance, leptin resistance, dyslipidemia, disorders related to syndrome X such as hypertension, obesity, insulin resistance, coronary heart disease, and other cardiovascular disorders. The compounds of the present invention may also be useful as aldose reductase inhibitors, for improving cognitive functions in dementia, as inflammatory agents, treating diabetic complications, disorders related to endothelial cell activation, psoriasis, polycystic ovarian syndrome (PCOS), inflammatory bowel diseases, osteoporosis, myotonic dystrophy, pancreatitis, retinopathy, 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 / concomittant with one or more HMG CoA reductase inhibitor; cholesterol absorption inhibitor; antiobesity drug; lipoprotein disorder treatment drug; hypoglycemic agents: insulin; biguanide; sulfonylurea; thiazolidinedione; dual PPARa and y agonist or a mixture thereof The compounds of the present invention in combination with HMG CoA reductase inhibitor, cholesterol absorption inhibitor, antiobesity drug, hypoglycemic agent can be administered together or within such a period to act synergistically. The present invention also provides a pharmaceutical composition, containing the compounds of the general formula (I) as defined above, their derivatives, their analogs, their tautomeric forms, their stereoisomers, their polymorphs, their pharmaceutically acceptable salts or their pharmaceutically acceptable solvates and one or more HMG CoA reductase inhibitor; cholesterol absorption inhibitor; antiobesity drug; lipoprotein disorder treatment drug; hypoglycemic agents: insulin; biguanide; sulfonylurea; thiazolidinedione; dual PPARα and γ agonist or a mixture thereof 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. Suitable pharmaceutically acceptable carriers include solid fillers or diluents and sterile aqueous or organic solutions. The active ingredient 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 flavourants, 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 peatuit 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. Aqueous solutions with the active ingredient dissolved in polyhydroxylated castor oil may also be used for injectable solutions. The injectable solutions prepared in this manner can then be administered intravenously. intraperitoneally, subcutaneously, or intramuscularly, with intramuscular administration being preferred in humans. For nasal administration, the preparation may contain the compounds of the present invention dissolved or suspended in a liquid carrier, in particular an aqueous carrier, for aerosol application. The carrier may contain additives such as solubilizing agents, such as propylene glycol, surfactants, absorption enhancers such as lecithin (phosphatidylcholine) or cyclodextrin or preservatives such as parabenes. Tablets, dragees or capsules having talc and / or a carbohydrate carried binder or the like are particularly suitable for any oral application. Preferably, carriers for tablets, dragees or capsules include lactose, com starch and / or potato starch. A syrup or elixir can be used in cases where a sweetened vehicle can be employed. The compound(s) of the formula (1) as defined above is 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 parenterally. By either route, the dosage is in the range of about 0.01 to about 100 mg/kg body weight of the subject per day or preferably about 0.01 to about 50 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. The compounds of the present invention lower random blood sugar level, triglyceride, total cholesterol, LDL, VLDL and increase HDL by agonistic mechanism. This may be demonstrated by in vitro as well as in vivo animal experiments. The invention is explained in detail in the examples given below which are proi"ided by way of illustration only and therefore should not be construed to limit the scope of the invention. step (i) To a suspension of LAH (22.1 g, 2.5 eq, 583 mmol) in dry THF (1.0 L), was added dropwise a THF (50 mL) solution of methyl 3-(4-hydroxyphenyl)propionate (21 g, 1.0 eq, 116 mmol) at RT. The reaction mixture was refluxed for 4-5 h. It was worked up by quenching with excess ethyl acetate followed by addition of water (23 mL), ]5% aq. NaOH (23 mL) and water (70 mL) under controlled stirring and maintaining RT. To the workup mixture cone. HCl was added to adjust the pH at 7.0. It was then filtered through celite and washed with ethyl acetate. Combined filtrate was dried (Na2SO4) and condensed. Obtained residue was chromatographed (ethyl acetate/hexanes) to obtain 3-(4-hydroxyphenyl)propanol (17 g, 100%) as white solid. Mp: 52-54C. "H NMR (CDCb, 200 MHz 8: 1.78-1,86 (m, 2H); 2.63 (t, J - 7.9 Hz, 2H); 3.67 (t, J = 6.3 Hz, 2H); 6.74 (d, J = 8.8 Hz, 2H); 7.05 (d, J - 8.8 Hz, 2H). IR (neat) cm"": 3485, 3029, 2940, 1505. Massm/z(CI): 152 [M+ 1]. Step (ii) To aDCM (550 mL) solution of 3-(4-hydroxyphenyl)propanol (17 g, 1.0 eq, 111.8 mmol), obtained in the step (i) and triethylamine (93.3 mL, 6.0 eq, 670.8 mmol) was added methanesulfonyl chloride (26 mL, 3.0 eq, 335.4 mmol) dropwise at 0 "C. The reaction mixture was stirred at RT for 16 h, after that it was worked up by diluting with excess DCM and washing the organic layer with dil. HCI, water and brine. The organic layer was dried (Na2SO4) and concentrated. Desired product from the crude mass was purified by recrystallization from diisopropylether. The remaining mother liquor was condensed and was chromatographed (ethyl acetate/hexanes) to obtain further amount desired compound (total yield 20.8 g, 61%) as white solid. Mp: 60-62 "C. Prepared following the typical procedure of preparation I Step (i) From methyl 3-hydroxyphenylpropionate; 3-(3-hydroxyphenyl)propanol was obtained as liquid mass (100%). "H NMR (CDCI3, 200 MHz: 5 1.80-1.88 (m, 2H); 2.64 (t, J = 7.9 Hz, 2H); 3.49 (bs, -OH); 3.67 (t, J = 6,5 Hz, 2H); 6.65-6.76 (aromatics, 3H); 7.09-7.17 (aromatics, IH). IR (neat) cm"": 3353, 2932, 2859, 1590. Massm/z(CI): 152 [M+1]. Step (ii) From 3-(3-hydroxyphenyl)propanol (900 mg, 1.0 eq, 5.92 mmol), obtained in the step (i); 3-(3-methanesulfonyloxypropyl)phenylmethanesulfonate was obtained (52%) as white solid. Mp: 60-62C. "H NMR (CDCI3, 200 MHz: 5 2.00-2.18 (m, 2H); 2.79 (t, J - 7.8 Hz, 2H); 3.00 (s, 3H); 3.15 (s, 3H); 4.22 (t, J = 6.4 Hz, 2H); 7.10-7.20 (aromatics, 3H); 7.21-7.40 (m, IH). IR (neat) cm"": 3030, 2941,1586. Mass m/z (CI): 309 [M+1]. To a solution of 3-(4-hydroxyphenyl)propanol (2.5 g, 1.0 eq, 16.44 mmol), obtained in the step (i) of preparation I in DCM (82 mL) and triethylamine (11.4 mL, 5.0 eq, 82.2 mmol), was added toluene-4-sulfonylchloride ( 9.4 g, 3.0 eq, 49.3 mmol) dropwise at 0 °C. The reaction mixture was stirred at RT for 16 h, after that it was worked up by diluting with excess DCM and washing the organic layer with water and brine. The crude residue obtained after drying (Na2S04) and condensing was chromatographed (ethyl acetate / hexanes) to obtain the desired compound (5.1 g, 67.7%) as thick liquid, "H NMR (CDCU, 200 MHz: 5 1.90 (quintet, J = 7.9 Hz, 2H); 2.44 (s, 6H); 2.61 (t, J = 6.8 Hz, 2H); 3.98 (t, J = 6.3 Hz, 2H); 6.83 (d, J = 8.8 Hz, 2H); 6.97 (d, J - 8.8 Hz, 2H); 7.32 (t, J = 7.5 Hz, 2H); 7.67 (d, J = 8.3 Hz, 2H); 7.76 (d, J = 8.3 Hz, 2H). IR (neat) cm"": 2926,1597,1502, 1364. Mass m/z (CI): 461 [M+I]. A mixture of 4-nitrophenol (1.0 g, 1.0 eq., 7.19 mmol), 1,2-dibromoethane (3.85 mL, 6.0 eq, 43.1 mmol), and anhydrous K2CO3 (3.0 g, 3 eq, 21.5 mmol) in dry acetone (36 mL) was stirred at RT for 16h. The reaction mixture was filtered, and the filtrate was condensed. Condensed mass was again dissolved in ethyl acetate and washed with aq, sodium bicarbonate solution. Organic layer was dried (Na2S04), condensed, and the residue was chromatographed using ethyl acetate and hexanes to obtain the title compound as solid (540 mg, 32%). Mp: 168 "C We claim: I. A compound of the formula (I) its tautomeric forms, its stereoisomers, its polymorphs, its pharmaceutically acceptable salts, their pharmaceutically acceptable solvates, wherein R1 represents hydrogen, hydroxy, halogen, linear or branched (C1-C12) alkyl, linear or branched {C1-C12) alkoxy, or substituted or unsubstituted arylalkyl group; R represents hydrogen, halogen, linear or branched (C1-C12) alkyl, linear or branched (C|- C12) alkoxy, (C1-C12) alkanoyl, aroyl, arylalkanoyl, substituted or unsubstituted arylalkyl; R represents hydrogen atom or substituted or unsubstituted groups selected from linear or branched (C|-C]2)aikyi, cycloalkyi, cycloalkylalkyl, cydoalkenyi, aryl, (C|-C]2)aIkanoyI, aroyl, arylalkyl, arylalkanoyl, heterocyclyl, heteroaryl, heteroarylalkyl, alkoxyalkyl, alkoxycarbonyl, aryloxycarbonyl, alkylaminocarbonyl, or arylaminocarbonyl groups; R represents hydrogen or substituted or unsubstituted groups selected from linear or branched (C1-C12) alkyl, cycloalkyi, aryl, arylalkyl, heterocyclyl, heteroaryl or heteroaryl alkyl groups; Y represents oxygen, NR7 or N(R7)0, where R represents hydrogen or substituted or unsubstituted groups selected from (C1-C12) alkyl, aryl, arylalkyl, hydroxyalkyl, alkanoyl, aroyl, arylalkanoyl, heterocyclyl, heteroaryl, heteroarylalkyl, alkoxycarbonyl or arylalkoxycarbonyl groups; R represents hydrogen or substituted unsubstituted group selected from alkyl, alkenyl, cycloalkyi, cycloalkylalkyl, aryl or arylalkyl group; Ar represents substituted or unsubstituted groups selected from divalent phenylene, naphthylene; X represents -C(=0)-, -C{=S)-, -C{=S)-0, -C(=0)-0-, -C(=0)-S-, -O-(CH2)d-, -NH- (CH2)d- where d is 1 to 4, -O-C(=O)-, -C{O)CH2-, -CRA=CRB"-CH2-; -CRA=CRBC0- where Ra and Rb are the same or different, and represent hydrogen or (C1-C6)alkyl or X represents a bond; R6 represents substituted or unsubstituted group selected from -OSO2R8, -OCONR8R9, -NR8COOR9 -NR8COR9 -NR8SO2R9, NR8CONR9R10, -NR8CSNR8"R9 wherein R8 R9 and R"" may be the same or different and independently represent hydrogen, or substituted or unsubstituted alkyl, aryl, arylalkyl, alkoxycarbonyl or arylalkoxycarbonyl; R6 is hydrogen, when R13 is at the third position of the phenyl ring and does not represent hydrogen. R13 represents hydrogen, -OSO2R8 -OCONR8R9 -NR8COOR9 -NR8COR9 NR8SO2R9 NR8CONR9R10 -NR8CSNR8R9, wherein R8 R9 and R10 may be same or different and independently represent hydrogen, or substituted or unsubstituted alkyl, aryl, arylalkyi, alkoxycarbonyl or arylalkoxycarbonyl; and n is an integer from 1 to 6, and m is an integer from 0 to 6; 2. The compound of formula (I) as claimed in claim 1, wherein R1 is hydrogen or linear or branched {C1-C6) alkyl group; R2 is hydrogen or linear or branched (C1-C6) alkyl group; R3 is hydrogen, linear or branched (C1-C12) alkyl, (C3-C7) cycloalkyl group, aryl group or aryl alkyl group; R4 is hydrogen, linear or branched {C1-C12) alkyl, (C3-C7) cycloalky group, aryl group or aryl alkyl group; R5 is hydrogen, (C1-C12) alkyl or (C3-C7) cycloalkyi group; R6 is -OSO2R8 -NR8SO2R9; R8 is hydrogen, linear or branched (C1-C6) alkyl group or substituted or unsubstituted aryl group; R9 is hydrogen, linear or branched (C1-C6) alkyl, t-butyloxycarbonyl or benzyloxycarbonyl group; R13 is hydrogen or -OSO2R8 X is -C(=0)-, -C{=S), -C(O)CH2-, -0-C(=O)-, -O(CH2)d, -CH=CH-CH2-; -CH=CH-CO- or X represents a bond; Y is oxygen; d is an integer from 1 to 4; m is an integer from 0 tol; and n is an integer from 0 to 2. 3. The compound of formula (I) as claimed in claim 2 wherein R1 is hydrogen; R2 is hydrogen; R3 is hydrogen, or linear or branched (C1-C12) alkyl group; R4 is hydrogen, or linear or branched (C1-C12) alkyi group; R5 is hydrogen or (C1-C12) alkyl group; R6 is -OSO2R8 or -NR8SO2R9; R8 is or linear or branched (C1-C6) alkyl, or substituted aryl group wherein the substituent is linear or branched (C1-C6) alkyl group; R9 is linear or branched (C1-C6) alkyl, t-butyloxycarbonyl or benzyloxycarbonyl group; R13 is hydrogen; X is -CH=CH-CH2-; -CH=CH-CO- or X represents a bond and Y is oxygen. 4. The compound according to claim 1 which is selected from: Ethyl 2-methoxy-3-[4-{3-(4-methanesulfonyloxyphenyl)propylamino}phenyl] propionate or its salts in its single enantiomeric form or as a racemate. Ethyl 2-ethoxy-3-[4-{3-{4-methanesulfonyloxyphenyl)propylamino}phenyl] propionate or its salts in its single enantiomeric form or as a racemate. Ethyl 2-ethoxy-3-[4-{3-{4-methanesutfonyloxyphenyl) propyloxycarbonylaminojphenyl] propionate or its salts in its single enantiomeric form or as a racemate. Ethyl 2-ethoxy-3-[4-{3-{3-methanesulfonyloxyphenyl)propylamino}phenyl] propionate or its salts in its single enantiomeric form or as a racemate. Ethyl 2-ethoxy-3-[4-{3-(4-(toluene-4-sulfonyloxy)phenyl)propylamino}phenyl] propionate or its salts in its single enantiomeric form or as a racemate. Ethyl 2-ethoxy-3-[3-{3-(4-methanesulfonyloxyphenyl)propylamino}phenyl] propionate or its sahs in its single enantiomeric form or as a racemate. Ethyl 2-isopropoxy-3-[4-{3-(4-methanesulfonyloxyphenyi)propylamino}phenyl] propionate or its sahs in its single enantiomeric form or as a racemate. Ethyl 2-ethoxy-3-[4-(4-methylsulfonyloxyphenethylamino)phenyl]propionate or its salts in its single enantiomeric form or as a racemate. Ethyl 2-ethoxy-3-{4-[(E)-3-{4-methylsulfonyloxyphenyl)-2-prope- nylamino]phenyl}propionate or its salts in its single enantiomeric form or as a racemate. Methyl 2-ethoxy-3-[4-(4-methanesulfonyloxybenzyIamino)phenyIjpropionaie or its salts in its single enantiomeric form or as a racemate. 2-Methoxy-3-[4-{3-(4-methanesulfonyloxyphenyl)propyIamino}phenyI]propionic acid or its salts in its single enantiomeric form or as a racemate. 2-EthQsy-3-[4-{3-{4-meth^^esuIfonyloxypheny[)propy!amino}phenyl]propionic acid or its salts in its single enantiomeric form or as a racemate. 2-Ethoxy-3-[4-{3-{4-methanesuIfony]oxyphenyl)propyIoxycarbonyIamino| phenyl] propionic acid or its salts in its single enantiomeric form or as a racemate. 2-Ethoxy-3-[4-{3-(3-methanesulfonyloxyphenyl)propylamino}phenyl]propionic acid or its salts in its single enantiomeric form or as a racemate. 2-ethoxy-3-[4-{3-(4-(toIuene-4-suIfonyloxy)phenyl)propylamino}phenyl] propionate or its salts in its single enantiomeric form or as a racemate. 2-Ethoxy-3-[3-{3-(4-methanesulfonyloxyphenyl)propylamino)phenyl]propjonic acid or its salts in its single enantiomeric form or as a racemate. 2-Isopropoxy-3-[4-{3-(4-methanesulfonyloxyphenyl)propylamino}phenyl]propionic acid or its salts in its single enantiomeric form or as a racemate. 2-ethoxy"3-[4-(4-methanesulfonyIoxybenzylamino)phenyl]propionic acid or its salts in its single enantiomeric form or as a racemate. 2-ethoxy-3-[4-(4-methy!sulfbnyloxyphenethylamino)phenyl]propionic acid or its salts in its single enantiomeric form or as a racemate. 2-Ethoxy-3-{4-[(£)-3-{4-methylsulfonyloxyphenyl)-2-prope-nyIamino]phenyl}propjonic acid or its salts in its single enantiomeric form or as a racemate. Ethyl 2-ethoxy-3-[4-{4-methyIsulfonyloxybenzylcarboxamido)phenyl]-propionate or its salts in its single enantiomeric form or as a racemate. 2-Ethoxy-3-[4-(4-methylsulfonyloxybenzylcarboxamido)phenyl]propionic acid or its salts in its single enantiomeric form or as a racemate. Ethyl 2-ethoxy-3-i;4- p-(4-tert-buloxy-4-methyIsulfonamidophenyl)propyl- amino}phenyl]propionate or its salts in its single enantiomeric form or as a racemate. 2-Ethoxy-3-f4-{3-{4-tert-butoxy-4-methylsulfonamidophenyl)propylamino}- phenyl]propionic acid or its salts in its single enantiomeric form or as a racemate. Ethyl 2-ethoxy-3- (4-[(£)-2-(4-methylsulfonyloxyphenyl)-1 -ethenylcarboxami- do]phenylSpropionate or its salts in its single enantiomeric form or as a racemate. 2-Ethoxy-3-{4-[{E)-2-(4-methylsulfonyloxyphenyl)-l-ethenylcarboxamido]- phenyl}propionic acid or its salts in its single enantiomeric form or as a racemate. Ethyl 2-ethoxy-3-[4-(4-methylsulfonyloxyphenethylcarboxamido)phenyl]-propionate or its salts in its single enantiomeric form or as a racemate. 2-Ethoxy-3-[4-(4-methylsulfonyloxyphenethenylcarboxamido)phenyl]propa-noic acid or its salts in its single enantiomeric form or as a racemate. Ethyl 2-methoxy-3-[4-{(E)-3-{4-methylsulfonyloxyphenyl)-2-propenylamino}phenyl] propionate or its salts in its single enantiomeric form or as a racemate. 2-Methoxy-3-[4-{(E)-3-(4-methylsulfonyloxyphenyl)-2-propenylamino}phenyl] propionic acid or its salts in its single enantiomeric form or as a racemate. Ethyl 2-methoxy-3-[4-{3-(3-methanesulfonyloxyphenyl)propylamino}phenyl] propanoate or its salts in its single enantiomeric form or as a racemate. 2-Methoxy-3-[4-{3-(3-methanesulfonyloxyphenyI)propylamino} phenyl]propanoic acid or its salts in its single enantiomeric form or as a racemate. Ethyl 2-ethoxy-3-{4-[(£)-3-{4-methylsulfonyloxyphenyl)-2-propenyl(phenyl) carboxamido]phenyl}propanoate or its salts in its single enantiomeric form or as a racemate. 2-ethoxy-3-{4-[{£)-3-(4-methylsulfonyl-oxyphenyl)-2-propenyl{phenyl) carboxamido] phenyl}propanoic acid or its salts in its single enantiomeric form or as a racemate. Methyl 2-methoxy-3-{4-[(E)-3-(4-methyl-sulfonyloxyphenyl)-2-propenyl(phenyl) carboxamidojphenyl}propanoate or its salts in its single enantiomeric form or as a racemate. 2-methoxy-3-{4-[(E)-3-{4-methylsulfonyl-oxyphenyl)-2-propenyl(phenyt) carboxamido]phenyl}propanoic acid or its salts in its single enantiomeric form or as a racemate. 5. The compound according to claim 1 wherein the pharmaceutically acceptable salt is selected from the group consisting of Li, Na, K, Ca, Mg, Fe, Cu, Zn, Al, Mn; N,N"- diacetylethylenediamine, betaine, caffeine, 2-diethytaminoethanol, 2- dimethylaminoethanol, N-ethylmorpholine, N-ethylpiperidine, glucamine, glucosamine, hydrabamine, isopropylamine, methyl glucamine, morpholine, piperazine, piperidine, procaine, theobromine, valinol, diethylamine, triethylamine, trimethylamine, tripropylamine, tromethamine, adamentyl amine, diethanolamine, meglumine. ethylenediamine, N,N"-diphenylethylenedi amine, N,N"-dibenzylethylenediamine, N-benzyl phenylethylamine, choline, choline hydroxide, dicyclohexylamine, metfonnin, benzylamine, phenylethylamine, dialkylamine, trialkylamine, thiamine, aminopyrimidine, aminopyridine, purine, pyrimidine, spennidine; alkylphenylamine, glycinol, phenyl glycinol; glycine, alanine, valine, leucine, isoleucine, norleucine, tyrosine, cystine, cysteine, methionine, proline, hydroxy proline, histidine, ornithine, lysine, arginine, serine, threonine, phenylalanine; unnatural amino acids; D-isomers or substituted amino acids; salts of acidic amino acids selected from aspartic acid or glutamic acid; guanidine, substituted guanidine wherein the substituents are selected from nitro, amino, alkyl, alkenyl or alkynyl; ammonium, substituted ammonium salts; sulphates, nifrates, phosphates, perchlorates, borates, hydrohalides (HCl, HBr, HI), acetates, tartrates, maleates, citrates, succinates, palmoates, methanesulphonates, benzoates, salicylates, hydroxynaphthoates, benzenesulfonates, ascorbates, glycerophosphates, or ketoglutarate salt. where all other symbols are as defined above to produce a compound of the formula (I) b) and if desired converting the compound obtained in to its tutomaric form, its stereoisomers, its polymorphs, its pharmaceutically acceptable salts or its pharmaceutically solvates by conventional methods. where G1 and G2 independently represent -NH2 or -CHO, q is an integer ranging irom 0 to 6 and all other symbols are as defined above to yield a compound of formula (I) where R5 represents hydrogen and all other symbols are as defined above, b) and if desired converting the compound obtained in to its tutomaric form, its stereoisomers, its polymorphs, its pharmaceutically acceptable salts or its pharmaceutically solvates by conventional methods. 8. An intermediate of the formula (IIIa) their tautomeric forms, their stereoisomers, their salts, their solvates wherein R5 represents hydrogen or substituted unsubstituted group selected from alkyl, alkenyl, cycloalkyl, cycloalkylalkyl, aryl or arylalkyi group; n and m are integers ranging from 0-6; Ar represents substituted or unsubstituted groups selected from divalent phenylene, naphthylene, pyridyl, quinolinyl, benzofuryl, dihydrobenzofuryl, benzopyranyl, dihydrobenzopyranyl, indolyl, indolinyl, azaindolyl, azaindolinyl, pyrazolyl, benzothiazolyl, benzoxazolyl and the like. The substituents on the group represented by Ar may be selected from linear or branched optionally halogenated {C1-C6)alkyl, optionally halogenated (C|-C3)alkoxy, halogen, acyl, amino, acylamino, thio or carboxylic or sulfonic acids and their derivatives. X represents C=0, C=S, -C{0)CH2-, -CH=CH- CH2-; -CH=CH-CO- or X represents a bond; R6 represents substituted or unsubstituted group selected from aryloxycarbonyl, arylalkoxycarbonyl, alkylcarbonyloxy, alkoxycarbonyl amino, aryloxycarbonyl amino, arylalkoxycarbonylamino, fluorenylmethoxycarbonyl (Fmoc), fluorenylmethoxycarbonylamino (N-Fmoc), 0S02R\ -OCONR^R"", NR^COOR"", -NR8COR9 -NR8SO2R9", NR8CONR9"R10 -NR8"CSNR8"R9", -SO2R8 -SOR8 -SR8 -SO2NR8R9", -SO2OR8 -COOR9 -COR9 or -CONR8R9", wherein R8 R9 and R10 may be the same or different and independently represent hydrogen, or substituted or unsubstituted alkyl, aryl, arylalkyi, alkoxycarbonyl or arylalkoxycarbonyl; R8 and R9 when present on nitrogen atom together may form a 5 or 6 membered cyclic structure containing carbon atoms and one or more heteroatoms selected from oxygen, sulfur or nitrogen or R6 is hydrogen; when R is at the third position of the phenyl ring and does not represent hydrogen; R represents hydrogen, halogen, nitro, cyano, amino, haloalkyl, hydroxy or substituted or unsubstituted group selected from linear or branched {C1-C12)alkyl, aryl, arylalkyi, heteroaryl, heteroarylalkyl, heterocyclyl, alkoxy, monoalkylamino, dialkylamino, alkoxycarbonyl, aryloxycarbonyl, arylalkoxycarbonyl, aryloxy, arylalkoxy, alkylcarbonyloxy, alkoxycarbonyiamino, aryloxycarbonyl amino, arylalkoxycarbonylamino, fluorenylmethoxycarbonyl (Fmoc), fluorenylmethoxycarbonylamino (N-Fmoc), -OSO2R8 -OCONR8R9 NR8COOR9 - NR8COR9 -NR8R9, -NR8SO2R9 NR8CONR9R10, -NR8CSNR8R9 -SO2R8 -SOR8 -SR8 -SO2NR8R9, -SO2OR8 -COOR9 -COR9 -CONR8R9 wherein R8 R9 and R10 may be same or different and independently represent hydrogen, or substituted or unsubstituted alkyl, aryl, arylalkyl, alkoxycarbonyl or arylalkoxycarbonyl; R8 and R9 when present on nitrogen atom together may form a 5 or 6 membered cyclic structure containing carbon atoms and one or more heteroatoms selected from oxygen, sulfur or nitrogen. 9. A composition, which comprises a compound of formula (I) as defined in any one of claims 1 to 5 and a pharmaceutically acceptable carrier, diluent, excipient or solvate. 10. A composition which comprises a compound of formula (I) as defined in claim 1 to 5 and an HMG CoA reductase inhibitor; cholesterol absorption inhibitor; antiobesity drug; lipoprotein disorder treatment drug; hypoglycemic agent: insulin; biguanide; sulfonylurea; thiazolidinedione; dual PPARa and y agonist or a mixture thereof and a pharmaceutically acceptable carrier, diluent, excipient or solvate. 11. A pharmaceutical composition as claimed in claim 9 or 10 in the form of a tablet, capsule, powder, syrup, solution, or suspension. |
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971-mas-2001 abstract duplicate.pdf
971-mas-2001 claims (provisional).pdf
971-mas-2001 claims duplicate.pdf
971-mas-2001 correspondence others.pdf
971-mas-2001 correspondence po.pdf
971-mas-2001 description (complete) duplicate-1.pdf
971-mas-2001 description (complete) duplicate.pdf
971-mas-2001 description (complete)-1.pdf
971-mas-2001 description (complete).pdf
971-mas-2001 description (provisional).pdf
| Patent Number | 218448 | ||||||||||||||||||
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| Indian Patent Application Number | 971/MAS/2001 | ||||||||||||||||||
| PG Journal Number | 21/2008 | ||||||||||||||||||
| Publication Date | 23-May-2008 | ||||||||||||||||||
| Grant Date | 01-Apr-2008 | ||||||||||||||||||
| Date of Filing | 03-Dec-2001 | ||||||||||||||||||
| 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 | A61K 31/00 | ||||||||||||||||||
| PCT International Application Number | N/A | ||||||||||||||||||
| PCT International Filing date | |||||||||||||||||||
PCT Conventions:
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