Synthesis of novel flavonols and their complexation with Zn, Fe, Cu and Co was carried out. The synthesized compounds were characterized by spectral methods. The characterized compounds were evaluated for their anti-oxidant activity and the test compounds exhibiting promising anti-oxidant activity were screened for their in-vitro anti-inflammatory activity by Cyclooxygenase (COX) and Lipoxygenase (LOX) inhibition assay. Among the synthesized compounds, three potential test compounds such as 3-(4-Benzyloxy-phenyl)-2-hydroxy-4H-naphthalen-1-one (F2), the zinc complex of F2, (F2M1) and 2-Hydroxy-3-(4-methylsulfanyl-phenyl)-4H-naphthalen-1-one (F4) were initially screened for their acute oral toxicity, determined according to the guidelines laid down by the Organisation for Economic Co-operation and Development, (OECD 425) and were found nontoxic to the animals at a dose of 2000mg/kg body weight. They were further evaluated for in-vivo anti-inflammatory activity both by carrageenan-induced acute paw edema method, carrageenan induced air-pouch model and CFA-induced arthritis model.