Novel 4-Chloro-2-[(1-phenyl-1H-tetrazol-5-ylimino)-methyl] phenol (Cl-PTMP) and its transition metal complexes were synthesized and characterized by FT-IR, 1 H-NMR, UV-Vis spectroscopy, Mass spectrometry, TGA and SEM. The pH-metric technique was applied to get an insight of the number of dissociable protons and protonation sites in candidate compound. The pH-Metric studies were also carried out in presence of metal ions to establish the formation of corresponding metal complexes in solution. Further, the metal ligand compositions of Cu (II) and Co (II) complexes were determined spectrophotometrically by employing Job's continuous variation method. To know the molecular properties in title imine compound suitable for metal ion coordination, the computational studies were carried out by employing HyperChem 7.5 tools. The energies of HOMO and LUMO frontier orbitals and their electron density contour maps were generated with geometry optimized molecule. Biological activity of Cl-PTMP and its metal complexes was investigated by disc diffusion method.