Heterocyclic compounds are widely prevalent in animal as well as in plant kingdom and they play vital role in metabolic processes. In recent years the 2,4,6,8-tetraaryl-3,7-diazabicyclo[3.3.1]nonanes (Bispidones) one of the important class of nitrogen heterocycle, constitutes an interesting case for the study due to the presence of four aryl groups. In this present work new derivatives of 2,4,6,8-tetraaryl-3,7-diazabicyclo[3.3.1]nonan-9-ones have been synthesized, stereochemistry and the chemical shift values have been assigned unambiguously using one and two Dimensional NMR studies; the stereochemistry of these compounds has been supported by X-ray diffraction studies also. These compounds are further converted into their corresponding 2,4,6,8-tetraaryl-3,7-diazabicyclo[3.3.1]nonan-9-ol, characterized through 1H-NMR, 13C-NMR. The change of solvent system in these studies increased the yield into 90% (in literature it is up to 50-60%).