A simple, straightforward and versatile multicomponent synthetic protocol for indeno-fused heterocycles indeno[1,2-b]quinoline derivatives has been developed. The strategy involves the one pot three component reaction of 1,3-indanedione, aryl-aldehyde, enaminone, by p- toluene sulphonic acid (10 mol%) in ethanol under reflux in good yield. The chemical structures of the compounds were proved by IR, 1H NMR, and Mass spectrometric data and CHN analysis. Moreover, the antianxiety activity of the newly synthesized compounds (6a-f) was investigated by the elevated plus maze method. Derivatives 6a, 6b, 6d and 6k found to be most potent among the series and exhibited significant anxiolytic activity (***P < 0.001). The molecular modeling studies also predicted good binding interactions of most active molecules with the Serotonin 5-HT2A receptor.