The novel ligand PMHQ (HL5) was synthesized using anthranilic acid and it was undergo the chelating reaction with Cu(II), Ni(II), Co(II), Mn(II) and Zn(II) to prepare transition metal chelates. These chelates were characterized by physicochemical methods such as elemental analysis, conductometric studies, magnetic susceptibility, FT-IR, NMR and electronic spectral data. The stoichiometry of the complex has been found to be 1: 2 (Metal: ligand). An octahedral geometry around Co(II), Ni(II) and Mn(II), distorted octahedral geometry around Cu(II) and tetra hedral geometry around Zn(II) have been proposed. The antifungal activity of ligand and its metal chelates was conducted against various fungi.