A series of metal complexes of cobalt(II), nickel(II) and copper(II) have been synthesized with newly derived biologically active ligands. These ligands were synthesized by the condensation of 3-substituted-4-amino-5-hydrazino-1,2,4-triazole and 8-formyl-7-hydroxy-4-methylcoumarin. The probable structure of the complexes has been proposed on the basis of elemental analyses and spectral (IR, Uv-Vis, magnetic, ESR, FAB-mass and thermal studies) data. Electro chemical study of the complexes is also reported. All these complexes are non-electrolytes in DMF and DMSO. All the ligands and their Co(II), Ni(II) and Cu(II) complexes were screened for their antibacterial (Escherichia coli, Staphylococcus aureus, Staphylococcus pyogenes and Pseudomonas aeruginosa) and antifungal (Aspergillus niger, Aspergillus flavus and cladosporium) activities by MIC method. The brine shrimp bioassay was also carried out to study their in vitro cytotoxic properties.