A series of macrocyclic metal (II) complexes were synthesized by template condensation of Malonic acid dihydrazide and 5-chloroisatin with Co (II), Ni (II), Cu (II) and Zn (II) salts in methanolic medium. Complexes have been characterized on the basis of various techniques like Elemental analysis, Molar Conductance, Magnetic susceptibility, Thermal gravimetric analysis, FTIR, 1H-NMR, ESR and UV-Visible spectroscopy. Octahedral geometry is proposed for all the macrocyclic metal (II) complexes. These complexes have been tested for their in vitro antibacterial activities against bacterial strains Bacillus subtilis, Staphylococcus aureus, Pseudomonas aeruginosa, and Escherichia coli. Some of the complexes have exhibited good antibacterial activity. Complexes were also tested for their antioxidant property and found good results.