A compound having the Formula: or its pharmaceutically acceptable salt thereof; wherein, R 1 is selected from halogen, substituted or unsubstituted alkyl, haloalkyl, cycloalkyl, cyano, -C alkyl and -OR 6 wherein R 6 is hydrogen or alkyl; 'q' is 0, 1, or 2; R 2 is substituted or unsubstituted phenyl or substituted or unsubstituted naphthyl wherein the substituents are one or more and independently selected from halogen, hydroxy, alkyl, haloalkyl and alkoxy; X is selected from a bond, -(CR c R d) r -, -NR 7 (CR c R d) r -, -O(CR c R d) r -, -C NR 7 -,-C NR 7 (CR c R d) r - wherein R 7 is hydrogen or substituted or unsubstituted alkyl, R c and Rd are hydrogen or alkyl, 'r' is 1, 2, or 3; Z is -OR 6 wherein R 6 is selected from hydrogen, alkyl or aryl, or Z is -NR 10 R 11 wherein R 10 and R 11 may be same or different and are independently selected from hydrogen, substituted or unsubstituted alkyl, -(CR c R d) r -C OH, -(CR c R d) r -C O-alkyl and cycloalkyl or R 10 and R 11 together may form a substituted or unsubstituted, saturated or unsaturated 3 to 12 membered cyclic ring, where the unsaturated cyclic ring may have one or two double bonds; and 'n' is 1, 2 or 3; wherein unless otherwise specified, the term "substituted" as used herein refers to a group or moiety having one or more substituents attached to the structural skeleton of the group or moiety; such substituents are selected from: halogen, cyano, alkyl, haloalkyl, aryl, cycloalkyl, heteroaryl, heterocyclic ring, -C OR x, -C R x, -C NR x R y, -NR x C NR y R z, -N(R x)S R y, -N(R x)S 2 R y,-NR x R y, -NR x C R y, -S 2 NR x R y, -OR x and -S 2 R x; wherein each occurrence of R x, R y and R z are independently selected from hydrogen, halogen, alkyl, haloalkyl, cycloalkyl, and aryl. R 1 is selected from halogen, substituted or unsubstituted alkyl, haloalkyl, cycloalkyl, cyano, -C alkyl and -OR 6 wherein R 6 is hydrogen or alkyl; 'q' is 0, 1, or 2; R 2 is substituted or unsubstituted phenyl or substituted or unsubstituted naphthyl wherein the substituents are one or more and independently selected from halogen, hydroxy, alkyl, haloalkyl and alkoxy; X is selected from a bond, -(CR c R d) r -, -NR 7 (CR c R d) r -, -O(CR c R d) r -, -C NR 7 -,-C NR 7 (CR c R d) r - wherein R 7 is hydrogen or substituted or unsubstituted alkyl, R c and Rd are hydrogen or alkyl, 'r' is 1, 2, or 3; Z is -OR 6 wherein R 6 is selected from hydrogen, alkyl or aryl, or Z is -NR 10 R 11 wherein R 10 and R 11 may be same or different and are independently selected from hydrogen, substituted or unsubstituted alkyl, -(CR c R d) r -C OH, -(CR c R d) r -C O-alkyl and cycloalkyl or R 10 and R 11 together may form a substituted or unsubstituted, saturated or unsaturated 3 to 12 membered cyclic ring, where the unsaturated cyclic ring may have one or two double bonds; and 'n' is 1, 2 or 3; wherein unless otherwise specified, the term "substituted" as used herein refers to a group or moiety having one or more substituents attached to the structural skeleton of the group or moiety; such substituents are selected from: halogen, cyano, alkyl, haloalkyl, aryl, cycloalkyl, heteroaryl, heterocyclic ring, -C OR x, -C R x, -C NR x R y, -NR x C NR y R z, -N(R x)S R y, -N(R x)S 2 R y,-NR x R y, -NR x C R y, -S 2 NR x R y, -OR x and -S 2 R x; wherein each occurrence of R x, R y and R z are independently selected from hydrogen, halogen, alkyl, haloalkyl, cycloalkyl, and aryl.