The recent Nobel Prize in Chemistry for the year 2010 was dedicated to Heck, Suzuki and Negishi who highlighted the importance of C-C bond forming reactions. Their studies using Pd-catalyzed coupling reactions proved to be an important tool to generate carbon-carbon and carbon-hetero atom bonds and have found applications in pharmaceuticals, agrochemicals and natural products, etc. Due to these multifarious applications, organometallic compounds of Platinum group metals (pgms) have become important as catalysts in synthetic organic chemistry both for industrial and application of academic interest. Multi-component reactions have attracted considerable attention as there is no need to isolate any intermediate during their processes reduces time as well as saves energy and raw materials. These are superior to two-component reactions in several aspects including the simplicity of a one pot procedure, possible structural variations, have advantages over conventional linear syntheses, including lower costs, shorter reaction times, high degrees of atom economy, the possibility for combinatorial surveying of structural variations, and environmental friendliness.