A process for production of N-[4-(1-cyclobutyl piperidin-4-yloxy) phenyl]-2-(morpholin-4-yl) acetamide dihydrochloride of formula, comprising: Step (i): reacting 4-hydroxy piperidine of formula with cyclobutanone of formula in presence of sodium triacetoxy borohydride in ethylene dichloride at a temperature in the range of 20 °C to 30 °C for a period of 12 hours to 14 hours to obtain 1-cyclobutylpiperidin-4-ol of formula; Step (ii): reacting 1-cyclobutylpiperidin-4-ol of formula with 4-fluoro-1-nitrobenzene of formula in tetrahydrofuran and sodium hydride at a temperature in the range of 30 °C to 45 °C for a period of 5 hours to 6 hours to obtain 4-(1-cyclobutylpiperidin-4-yloxy)-1-nitrobenzene of formula and purifying using 10 % aqueous acetic acid solution at 25 °C to 30 °C to obtain 4-(1-cyclobutylpiperidin-4-yloxy)-1-nitrobenzene of formula; Step (iii): reducing 4-(1-cyclobutylpiperidin-4-yloxy)-1-nitrobenzene of formula by using ammonium chloride and iron powder in a water and ethyl alcohol at a temperature in the range of 70 °C to 85 °C for a period of 3 hours to 5 hours to obtain 4-(1-cyclobutylpiperidin-4-yloxy) aniline of formula; Step (iv): reacting 4-(1-cyclobutylpiperidin-4-yloxy) aniline of formula with chloroacetylchloride of formula in tetrahydrofuran and potassium carbonate at a temperature in the range of -10 °C to 0 °C for a period of 4.5 hours to 5.5 hours to obtain 2-chloro-N-[4-(1-cyclobutyl piperidin-4-yloxy) phenyl] acetamide of formula and recrystallizing the compound of formula using isopropanol and methanol under reflux for a period of 0.5 to 1 hour; Step (v): reacting 2-chloro-N-[4-(1-cyclobutyl piperidin-4-yloxy)phenyl]acetamide of formula with morpholine of formula in acetonitrile and potassium carbonate at a temperature in the range of 75 °C to 85 °C for a period of 20 hours to 30 hours to obtain N-[4-(1-cyclobutyl piperidin-4-yloxy) phenyl]-2-(morpholin-4-yl) acetamide of formula; Step (vi): reacting N-[4-(1-Cyclobutyl piperidin-4-yloxy) phenyl]-2-(morpholin-4-yl) acetamide of formula in presence of isopropanolic hydrochloride and isopropanol at a temperature in the range of 20 °C to 30 °C for a period of 7 hours to 8.5 hours to obtain N-[4-(1-Cyclobutyl piperidin-4-yloxy) phenyl]-2-(morpholin-4-yl) acetamide dihydrochloride of formula; Step (vii): recrystallizating of N-[4-(1-Cyclobutyl piperidin-4-yloxy) phenyl]-2-(morpholin-4-yl) acetamide dihydrochloride of formula in presence of isopropanol and methanol at a temperature in the range of 58 °C to 63 °C for a period of 4 hours to 5 hours to obtain N-[4-(1-cyclobutyl piperidin-4-yloxy) phenyl]-2-(morpholin-4-yl) acetamide dihydrochloride of formula. Step (i): reacting 4-hydroxy piperidine of formula with cyclobutanone of formula in presence of sodium triacetoxy borohydride in ethylene dichloride at a temperature in the range of 20 °C to 30 °C for a period of 12 hours to 14 hours to obtain 1-cyclobutylpiperidin-4-ol of formula; Step (ii): reacting 1-cyclobutylpiperidin-4-ol of formula with 4-fluoro-1-nitrobenzene of formula in tetrahydrofuran and sodium hydride at a temperature in the range of 30 °C to 45 °C for a period of 5 hours to 6 hours to obtain 4-(1-cyclobutylpiperidin-4-yloxy)-1-nitrobenzene of formula and purifying using 10 % aqueous acetic acid solution at 25 °C to 30 °C to obtain 4-(1-cyclobutylpiperidin-4-yloxy)-1-nitrobenzene of formula; Step (iii): reducing 4-(1-cyclobutylpiperidin-4-yloxy)-1-nitrobenzene of formula by using ammonium chloride and iron powder in a water and ethyl alcohol at a temperature in the range of 70 °C to 85 °C for a period of 3 hours to 5 hours to obtain 4-(1-cyclobutylpiperidin-4-yloxy) aniline of formula; Step (iv): reacting 4-(1-cyclobutylpiperidin-4-yloxy) aniline of formula with chloroacetylchloride of formula in tetrahydrofuran and potassium carbonate at a temperature in the range of -10 °C to 0 °C for a period of 4.5 hours to 5.5 hours to obtain 2-chloro-N-[4-(1-cyclobutyl piperidin-4-yloxy) phenyl] acetamide of formula and recrystallizing the compound of formula using isopropanol and methanol under reflux for a period of 0.5 to 1 hour; Step (v): reacting 2-chloro-N-[4-(1-cyclobutyl piperidin-4-yloxy)phenyl]acetamide of formula with morpholine of formula in acetonitrile and potassium carbonate at a temperature in the range of 75 °C to 85 °C for a period of 20 hours to 30 hours to obtain N-[4-(1-cyclobutyl piperidin-4-yloxy) phenyl]-2-(morpholin-4-yl) acetamide of formula; Step (vi): reacting N-[4-(1-Cyclobutyl piperidin-4-yloxy) phenyl]-2-(morpholin-4-yl) acetamide of formula in presence of isopropanolic hydrochloride and isopropanol at a temperature in the range of 20 °C to 30 °C for a period of 7 hours to 8.5 hours to obtain N-[4-(1-Cyclobutyl piperidin-4-yloxy) phenyl]-2-(morpholin-4-yl) acetamide dihydrochloride of formula; Step (vii): recrystallizating of N-[4-(1-Cyclobutyl piperidin-4-yloxy) phenyl]-2-(morpholin-4-yl) acetamide dihydrochloride of formula in presence of isopropanol and methanol at a temperature in the range of 58 °C to 63 °C for a period of 4 hours to 5 hours to obtain N-[4-(1-cyclobutyl piperidin-4-yloxy) phenyl]-2-(morpholin-4-yl) acetamide dihydrochloride of formula.