Disclosed herein is a process for the preparation of substituted derivatives of 3 - Benzoyl - 2 - amino phenylacetic acid of Formula - I and its pharmaceutically acceptable salts which comprises the (i) protection of compound 2 - nitro benzophenone of Formula - XV to get the compound of Formula - XVI(ii) reaction of compound of Formula - XVI with vinyl magnesium bromide to obtain compound (\H~ indol - 7 - yl) phenyl - methanone of Formula - XIII which is finally converted to isolate substituted derivatives of 3 -Benzoyl - 2 - amino phenylacetic acid of Formula -1.