In recent years there is a tremendous increase of drug resistant pathogens, especially Mycobacterium tuberculosis leading to the design and development of newer antimycobacterial compounds. The reaction of various 3-amino-2- substituted phenyl quinazolin-4-one with chloroacetic acid provided 2-(4-oxo-2-substituted phenyl quinazolin- 3(4H)-yl amino)acetic acid. The structure of the compounds has been confirmed by IR, 1HNMR, Mass spectral data and Elemental analysis. Antitubercular and antibacterial activities were performed by microbroth dilution and cupplate method respectively. The compounds have also been screened for antioxidant activity by DPPH method. Though the compounds showed moderate antioxidant activity, two compounds have shown good antitubercular activity and better antibacterial activity compared to the standard drug.