Diazotization of p-toluidine and coupling with 3-amino-phenol-Formaldehyde (APF) resin give oligomaric azo dye TAPF, based on 3-amino-phenol-Formaldehyde (APF) polymer. The TAPF was then treated with 5-chloro methyl-8- quinolinol hydrochloride in the presence of a THF in alkaline medium (pH 9-10) at room temperature for 7 hrs. The resultant oligomaric ligand designated as azo polyphenol-formaldehyde-5-chloromethyl-8-quinolinol (TAPFQ) was characterized by elemental analysis, IR spectral studies, and thermogravimetry. The polymeric metal chelates of TAPFQ with Cu2+, Zn2+, Mn2+, Ni2+, Fe3+ and Co2+ metal ions were prepared and characterised by metal:ligand ratio, IR and reflectance studies, magnetic properties and thermogravimetry. The TAPFQ sample was also screened for its chelating and ion-exchanging properties. Batch equilibration method has been adopted for evolution of ionexchange properties.