The present invention relates to a novel multicomponent crystalline form of oxcarbazepine an anti-epileptic agent used to treat partial seizures. This form comprises of a solvated cocrystal of oxcarbazepine with succinic acid. It was prepared by solution crystallization method using a mixture of methanol and chloroform as solvent. The structure of the titled compound has been given. In the unit ceil there are eight host (drug) molecules four succinic acid molecules and four chloroform molecules i.e the ratio of drug: acid: solvent is 2:1:1. The invention also describes the conversion of this solvated co-crystal into its desolvated co-crystal form without disturbing the original crystal lattice. Efficacy of this desolvated co-crystal was proved by improved aqueous solubility dissolution profile and invivo absorption that resulted in lowering of EDSO value in comparison with pure drug.