The -cyclodextrin xanthates (-CDXs) have been synthesized by the reaction of -cyclodextrin (-CD) with CS2 in the presence of alkaline medium (NaOH), through xanthation process resulting the reaction mixture was turn to turbid orange color as a desired product. The desired product was extracted in diethyl ether and dehydrated in hot air oven at 50 o C. The synthesized -CDXs has been characterized by UV, FTIR, 1 HNMR, DSC, pHPZC and SEM analysis. Further, -CDXs and raw -CD has been used for the heavy metals removal (Cu 2+ and Ni 2+ ) and also used for treatment of lignin enriched paper industry wastewater (LEPIW). The maximum % removal of -CD, -CDX1, -CDX2 and -CDX3 for Cu 2+ ion at optimum dosage of 2 g/L, optimum pH of 6.5, temperature of 45°C, initial concentration of 1000 mg/L and at contact time of 80 min was 73.6, 91.9, 93.4 & 95.8% and for Ni 2+ ion at optimum dosage of 2.5g/L, optimum pH of 5.8, initial concentration of 1000 mg/L, temperature of 55 o C and contact time of 100 min was 65.8, 88.6, 91.3 & 94.1% respectively. While LEPIW treatment efficacy of 54, 77, 83 and 86 % has been noticed (initial COD: 2.0 g/L, pH: 7, optimum temperature: 40 °C at 80 min operating time) for -CD, -CDX1, -CDX2 and -CDX3 respectively. The calculated data were well fitted in Langmuir isotherm model confirmed the adsorption of Cu 2+ & Ni 2+ ions onto the -CDXs adsorbent is monolayer. The rate of adsorption of heavy metals (Cu 2+ and Ni 2+ ) on the -CDXs adsorbent has been controlled by kinetic model of Pseudo second order indicating the chemisorption. The optimal adsorption capacities of -CD, -CDX1, -CDX2 and -CDX3 has been found to be 357.14, 473.93, 510.20 & 534.75 mg/g for Cu 2+ and 294.11, 384.61, 408.16 & 423.72 mg/g and for Ni 2+ ions, respectively.