Four complexes of Cr(III) were synthesized with Schiff bases ligands derived from isonicotinyl hydrazide with benzaldehyde/ p-chlorobenzaldehyde. The ligands and complexes were characterized by elemental analysis, molar conductance, magnetic moment, FT-IR, 1 H NMR, 13 C{ 1 H} NMR and electronic spectroscopy. The molecular structure and different quantum chemical parameters such as dipole moment and polarizability, were calculated using the B3LYP basis set density functional theory (DFT) with the standard 6-311+G(d, 2p) level. The calculated HOMO and LUMO energies show that charge transfer occurs within the molecules. Ligands and complexes were screened for in vitro anti-diabetic and antibacterial activity. Anticorrosion activity of complexes was also studied by weight loss method.