The present invention relates to a standardised extract of Momordica Charantia containing one or more nitrogen containing heterocyclic compounds as the bioactive markers and a process for the preparation thereof. Tile present invention also relates to a composition comprising the standardised extract of Momordica Charantia containing one or more nitrogen containing heterocyclic compounds as the bioactive markers. The present invention also relates to use of the standardised extract of Momordica Charantia or the composition containing the said standardised extract for the treatment of metabolic disorders such as diabetes.