An aqueous suspoemulsion (SE) comprising: a dispersed oil phase Component (a) comprising: (i) lambda cyhalothrin as the first active ingredient (ii) at least one solvent having lambda cyhalothrin dissolved therein a continuous water phase Component (b) comprising: (i) imidacloprid as the second active ingredient and (ii) water having imidacloprid suspended therein and optionally at least one additive selected from the group consisting of an anti foaming agent an emulsifier an antifreeze agent a dispersant a preservatives antioxidant colorant a thickener and an inert filler. And a process for preparing an aqueous suspoemulsion as hereinbefore described characterized in that it comprises: Step 1: Preparing lambda cyhalothrin EC phase by mixing the active ingredient with a suitable solvent Step2 : Preparing a dispersion of imidacloprid in a continuous water phase by mixing the active ingredient a dispersant and a required amount of water and Step 3: Combining the EC phase in Step 1 with the water phase in Step 2.