The present invention mainly relates to the extraction of petroleum ether extract and essential oil from Ocimum gratissimum as the efficacious product against the silkworm parasitoid uzi fly, Exorista sorbillans. The extracted fraction is used for the chemical characterization of the most active extracted fraction against the silkworm parasitoid uzi fly, Exorista sorbillans. The various extracted fractions are used for the determination of efficacy by Bioassay and the active different compounds have been identified from the active fractions. The invention also relates to preparation of biopesticide formulations based on essential oil of Ocimum gratissimum and its active compounds for control of silkworm parasitoid uzi fly, Exorista sorbillans and process for their preparation.