A series of seven new compounds were synthesized. Seven different isatins were utilized for condensing with N-(Benzoxazol-2-yl)hydrazine carbothioamide. The investigation of antiinflammatory activity revealed that the test compounds Vc (R=5-NO2), Vd (R=5-Br) and Va (R=5-H) significantly reduced the inflammation, there by showed a promising antiinflammatory activity towards carrageenan induced paw edema rat model, when compared to the standard drug indomethacin. Among these compounds, compound Va (R=5-H) and Ve (R=5-CH3) showed comparatively more antioxidant activity.